We are on the precipice of a new form of finance that will use a range of technologies to change the way we use and manage one of our most fundamental tools: money.
Gone are the days of taking out cash from an ATM, applying for a mortgage by visiting a bank branch, or shopping in a department store. Now, for many, conducting financial transactions of any kind is a purely online experience, escalated over the past two years by the COVID-19 pandemic. Increasingly, the future of money exists in the Ether, via phones and laptops.
But there's a bigger future for money, the early stages of which are now taking place. Cryptocurrencies and faster, more powerful financial technologies are transforming our concept of money and challenging the financial institutions that currently manage it. The year 2021 was a transformative year for finance, and 2022 is shaping up to bring more change. ZDNet looks at two categories that are diving into the future of money: blockchain and fintech innovations.
BLOCKCHAIN AND DIGITAL CURRENCY
Cryptocurrency is a digital token that's secured and transferred cryptographically using blockchain technology. Bitcoin -- the world's first decentralized cryptocurrency, launched in 2009 -- is the biggest and most popular, with a market cap valued at $786 billion as of early January 2022. Plenty of people have heard about Bitcoin, but few know how it truly functions.
Continue reading: https://www.zdnet.com/article/the-future-of-money-where-blockchain-and-cryptocurrency-will-take-us-next/
Gone are the days of taking out cash from an ATM, applying for a mortgage by visiting a bank branch, or shopping in a department store. Now, for many, conducting financial transactions of any kind is a purely online experience, escalated over the past two years by the COVID-19 pandemic. Increasingly, the future of money exists in the Ether, via phones and laptops.
But there's a bigger future for money, the early stages of which are now taking place. Cryptocurrencies and faster, more powerful financial technologies are transforming our concept of money and challenging the financial institutions that currently manage it. The year 2021 was a transformative year for finance, and 2022 is shaping up to bring more change. ZDNet looks at two categories that are diving into the future of money: blockchain and fintech innovations.
BLOCKCHAIN AND DIGITAL CURRENCY
Cryptocurrency is a digital token that's secured and transferred cryptographically using blockchain technology. Bitcoin -- the world's first decentralized cryptocurrency, launched in 2009 -- is the biggest and most popular, with a market cap valued at $786 billion as of early January 2022. Plenty of people have heard about Bitcoin, but few know how it truly functions.
Continue reading: https://www.zdnet.com/article/the-future-of-money-where-blockchain-and-cryptocurrency-will-take-us-next/
