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Digital currency
Imagine a international brand - currency because of its individual digital rank or individual brands with their own individual currencies, or paying someone without any payment restrictions, fees or getting paid in your company’s own digital currency and paying for everything with only your smart phone 📲
Currencies From The Future
10.1.2019
Intrinsic Value
Lastly, I want to give my opinion on the value of bitcoin and other coins or anything exchanged on the blockchain. Blockchain technology is the intrinsic value, and bitcoin is just one of the many currencies available on the blockchain public ledger. Intrinsic value is something that is determined by its use, and if there is no use for the tangible or intangible object, then yes it can be considered as having no intrinsic value. Lets take gold for example, there is very little use in the consumption of gold, except for investment speculation. ask yourself how many people do you know own a bar of gold and what they use it for! In the case of bitcoin, it has been used to prove a specific digital technology can be used in a secure safe transaction by two users that agree on the value in a exchange.
What exactly is Currency
Currency is the idea of objects that have value. Currency is what one ☝🏽individual makes it. For example, Kublai Khan, a Mongolian emperor invented the greatest idea of currency when he annotated a piece of paper into a form of currency. The idea of Currency is whatever you make it, and if their is value , others will see it as a form of currency.
It’s 2019 and the world 🌎economy is changing into A real digital global economy! Recently, I saw a documentary 🎥that illustrated digital payment systems in China are quickly replacing paper currency notes. Meaning, paper 🧻money is becoming none existent!
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Imagine a total digital paperless system. If and when this theory take's shape, it will change the way human's make transactions and redefine what is considered as valuable and what it is not valuable.
Data is the new bacon
Everywhere in the world humans perform various task for currency that is meant to have value. The exchange of goods or services with material cash has distorted the very idea 💡of value. The real value in goods and services has been manipulated because of the misrepresentation in the number of transactions of paper currency. paper cash has been used to dictate prices for all other tangible and intangible utility's. A utility is something of use. Subjectively, I predict currencies in the future will be based on individual brand utility. everything that is branded will have its own individual currency, and the value will be based on digital utility gather from transnational data .
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WHAT ARE CRYPTO EXCHANGES
CRYPTO EXCHANGES, ALSO KNOWN AS DIGITAL CURRENCY EXACHAGES ARE BUSINESS'S THAT OFFER ACCESS TO DIGITAL WALLETS FOR THOSE SEEKING TO EXCHANGE DIGITAL CURRIENCES. .
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these EXCHANGES OPERATE LIKE BANKS . if a individual is seeking to buy crypto , sell crypto , exchange crypto or convert crypto into fiat .
Why the currency conversion is important
The very idea of using one currency to pay for another form of currency is the current system of today's exchange. For example time is the ultimate form of currency and in order to obtain more time ,humans must create, manage and exchange commodities of other currencies for more time. No mater where you live, every human on the planet exist to obtain and exchange some form of individual currency for utility. Whether you work for paper currency in exchange for personal time or are in possession of a currency, their is always a need to convert those currencies into other currencies of utility to reap its benefit.
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Crypto exchanges offer services for these types of request. .
Similar to a currency exchange , crypto exchanges allow Digital coins to be exchanged and used in transactions at a exchangeable rate of use. . the rate determines the exchange fee,.
Crypto exchanges have different services and fee's .
Scroll down to see the list of crypto exchanges !
Point is .....
I think 🤔we should be asking ourselves how accurate is our system of tracking paper currency and it’s value. Does it measure or count every single transaction in every country in the world? How can we be so sure the value of currency is backed by its demand or by tangible objects, or if there is no data to prove it, or prove the accuracy of the data used to determine its value. Especially if it’s based on the exchange of paper money and coins. Bottom line, paper currency is becoming too hard to track and determine its value.
Correction will unveil the truth
There is a correction coming. Imagine a world 🌍where ever single object had its own currency value and humans had to have that specific currency to purchase that specific object. Currencies like Computer 🖥coins, hat coins 🎩, toy 🧸coins, and yes even Justin bieber coins. Every single brand will be dictated by the exchange of its individual currency. The digital rank will determine value of the utility. The currencies of the future will be based on digital utility value. Which means value based on digital use.
participation is required
a digital paperless system may turn out to be a problem for well established countries, because the use of paper currency and physical coins will decrease in utility and will lose value when compared to any country that uses only digital currency for exchange. It will allow an alternative currency for exchange in good and services. Those who chose not to participate could miss out on economic opportunities such as trade, online or digital purchase.
Accounting transactions
Let’s look at it this way, whether the exchange of monies is by digital or paper, it all accounts into a total number of transactions. Therefore, if the use of a country’s paper note or physical coin decreases, so does its value. It’s about the utility of paper cash vs digital payments.
For example, as of Sept 2019, the U.S. exchange rate for one African Rand is $14.90 to one US dollar. Which simple means, the US note 💵is more valuable because its being used more across Africa and world wide in bigger transactions then the Rand note. Currency value is based on circulation and the value of purchase in each transaction. So if humans began using the Rand only to buy houses 🏡across the globe, the value in the Rand currency could potentially move up, because of the amount of rand used in each transaction and type of purchase associated. Smaller purchases, like a bag of chips, candy bar or food sold in a street market Doesn't really move the needle for currency value. currency is determined by the demand of the utility(value), the amount and number of transactions used in each exchange.
History reshapes & repeats itself
It’s actually kinda of funny, cause history has pointed us right back to where we started, just with a little more tools 🧰. Can you say digital receipts! Blockchain technology was created out of the internet, because users had a need to make safe, recorded transactions with anyone in the world, without using a centralized bank.
Although, digital payments have existed for quite some time, the banking industry got a little too greedy with fees and transaction cost. Therefore making the payment system expensive and inconvenient. So, blockchain technology removes cost fees for digital payments and accurately stores the transaction to a ledger.
What exactly is a blockchain ledger
Now, let’s dive a little deeper. Since the blockchain ledger 📒is a public form of digital receipt 🧾, that means every business and country within the global economic system will have the opportunity to see what’s on the ledger and participate as needed.
As for the type of currency added to the ledger , it is a representation of specific utility. Each utility offers something different. The currency could be a country coin that used and exchanged on the ledger. Hence why I have predicted that currency’s from the future will have their own individual currency and value. Which means everything that can be branded could have its own individual digital currency.
Opportunity for all
I believe the US has the opportunity to become a global exchange place for blockchain technology because of its access to global markets. In America every currency in the world is exchanged by many different cultures that already reside in the United states.
American democratic freedoms allow US citizens to participation on a global scale individually without every leaving the country. I believe the more American citizens began to realize that their access to digital capital for international utilities is greater than those of other countries, then more citizens will participate and let the free market run its course
America should promote create or invest in more digital exchanges that could provide access to currencies on a public ledger that is connected to other currencies used in different regions of the world. More specifically the more access to different currencies the more opportunity for exchange for utility.
blockchain Technology
Their is a system that is growing everyday, it’s called blockchain technology. Blockchain allows users to be there own bank. Which means No third party institutions or banks can hold any monies or anything of value that you own or use to exchange unless you authorize the use of access to your blockchain keys. The future will require everyone to have a digital wallet that has access to a public ledger. Before I get into how we got to blockchain, I want to bring up how currency came into use. The exchange of goods or services has always existed, however money was used as form of paper receipt 🧾from whatever Tangible or intangible exchange that was sold and bought in a transaction by each party. As stated before, currency is whatever you or others deem as valuable. History shows that the form of currency has changed over time into such things like metals, gold, and the paper note, but the receipt has not. This means that in every transaction, even if it's a dollar, rand, quan, or brick that is used, the transaction is still recorded and the value is agreed between the individuals in that particular agreement. This digital record provides a range in value that can add to the number of times the transaction is repeated and the average of demand for utility associated in the transaction.
Its about Digital Utility {" is blockchain being used"}
What it is hard to believe is that block chain technology is a growing utility and its is in its early stages. Blockchain technology is a digital method of transacting. According to a online article published by “Iris”, a thematic research and indexing firm, https://www.iris.xyz/financial-podcasts/does-going-cashless-break-law
“Venmo reported at least 40 million users completed one digital transaction in the prior 12 months and Square reported 15 million , While those numbers are larger than some digital user figures at banks — Bank of America (BAC) reported that its active base of digital users was 37 million in the month of March 2019 quater and for the same period Wells Fargo & Co. (WFC) had 29.8 million active digital users – during the June 2019 quarter Apple (AAPL) Apple’s Apple Pay completed nearly 1 billion transactions per month,
What those figures tell us is in today’s world more consumers are embracing digital shopping and mobile ordering, for both convenience and in many cases better affordable prices, we will likely see a continued movement away from cash usage…
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in blockchain we trust
Currencies from the future will ultimately solve the idea of systemic trust in value. The physical security of banks 🏦withholding money will be less of an necessity, but rather just a international digital exchange center, offering access to other blockchain ledgers. I also might add that banks and financial institutions can participate and create their own currency. The free market of competition will revolve around the reason of utility. So the question is what can a bank offer to users that will make their individual currency attractive? Maybe smart contracts, higher compounding interest, I'm not really sure, but it better involve utility. This is all part of the futuristic caveat of blockchain technology that allows everyone, everywhere to store all kinds of things that have value on the blockchain ledger without really needing a third party. The public ledger can include items such as the deed to a house, music 🎶rights, videos, art, apparel, cars, digital coins, marriage license’s or anything that can can be uploaded and transferable in digital format within the blockchain network.
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