As you know that the 21st century is going on, then how can you imagine it a typical and oddest century? It’s not an oddest but a modest century. In which unbelievable things are happening and impossible things are getting possible.
A few years back, cryptocurrency or digital currency seemed to be impossible to happen. However in 2009, for the very first time, the first digital currency Bitcoin (BTC) was launched. Afterward, many others like Ethereum (ETH), Litecoin (LTC), and many more were launched.
At the current time, more than 7500 cryptocurrencies have been launched yet. Moreover, the top-ranked is Bitcoin(BTC), and after that Ethereum (ETH). It is also known as the financial currency of NFT (Non-Fungible Tokens).
Cryptocurrency is not only a currency but a payment transfer method. In other words, cryptocurrency is a medium of exchanging currency digitally, without the involvement of any centralized authority like a bank or government. It is a decentralized system. Where you own your currency through a blockchain that is completely encrypted and you are the only owner of your currency.
In simple words, we can say that cryptocurrency is another name for electronic money or virtual currency. And it will not be wrong to say that the coming time is the time of digital currency.
Future Of The Financial World
Understanding the worth of digital currency is the need of the hour as it is the future of the world. Most of the currencies will be digital in the upcoming time and will be decentralized. Therefore, no corruption and terror financing will take place anymore.
Legislation Of Cryptocurrency
Everything in the world has its pros and cons, but here you need to consider the benefits. Likewise, cryptocurrency also has merits and demerits. But it is a non-deniable fact that digital currency is spreading everywhere.
After an opposing atmosphere, the world is moving towards digital assets, especially after the introduction of Meta and NFT, Many countries are considering D.C. Following in the footsteps of China, India is legalizing cryptocurrency. Indian Finance Minister, Nirmala Seeta has announced in her budget speech that on the 1st of April, Reserved Bank of India will introduce its own digital currency.
No doubt, the world is changing swiftly with digital currency but there is a fear about D.C., which is Terror Financing. What is it? Let’s have a quick eye on it.
There is a misconception about terror financing about digital currency. That means the money is going outside Pakistan. As Every single piece of information is documented or recorded in an encrypted chain system i.e. Blockchain. Then how you can say that money will go outside Pakistan? Hence it is a flimsy argument or concept.
Although money goes outside Pakistan through many other ways like shopping for foreign products from different platforms like Amazon, Alibaba, etc. Moreover, if you are advertising on Facebook, or having Google add advertisements, even if you acquire email or buy hosting the money, you are responsible for money transferring from Pakistan.
Digital currency is getting worth throughout the world as it will be the world’s future. In simple words, clouds of cryptocurrency have prevailed everywhere and are enveloping the whole world, especially the world of finances or currencies. However, you should know it and start to work on it, to match the pace of the world. Otherwise, the world will leave you behind and move ahead.