Posts tagged #xrp
Have you heard of Cryptocurrency?
 
The original cryptocurrency...  but is it going to last?

The original cryptocurrency...  but is it going to last?

 

I'm not sure if you've noticed, but the world is changing.

And one thing that's changing even faster than our adoption of the internet and connected devices is how money and assets are being held and transferred.

Cryptocurrency - the often thought of world of money laundering, Silk Road and the dark web is becoming a mainstream way of owning and transferring wealth.

Here's just some of the big ones:

  • Bitcoin - the original cryptocurrency and creator of countless new millionaires and billionaires, and still the largest crypto by market cap and price-per-unit value
  • Ethereum - a newer cryptocurrency that also offers the ability to create smart, self-executable contracts between parties that could revolutionize everything from insurance to software sales
  • Ripple - a cryptocurrency that's designed specifically to take on the multi-trillion dollar international finance industry by allowing institutions in different countries the ability to transfer large sums of cash in seconds (avoiding the slow and expensive ways that banks currently send money)
  • Litecoin - a fresh, new cryptocurrency that was built by an ex-Google engineer that's now got a Top 5 market cap
  • Stellar - a simple cryptocurrency that also has fast transfer times, allows development using its platform (and was designed by one of the co-founders of Ripple)
  • QTUM - a smart cryptocurrency that's designed for business - watch this space...

The incredible thing about cryptocurrency is that it's (generally) untraceable, anonymous and highly secure.

Here's why:

Under every type of 'crypto' is what's called a Blockchain.

Blockchain is essentially that - a chain of blocks - and each 'block' is an encrypted section of a transaction and ownership ledger.

Your bank keeps a ledger of all account owners, balances and transactions, and it's the same with blockchain, except the information is encrypted in a publicly viewable ledger that can't be tampered with.

In simple terms, it means anyone in the world can buy, sell, or transfer wealth securely, without any government controls or chance of theft.

It does however mean that if you lose your private 'keys' to your cryptocurrency 'wallet', that you've also lost your money too. Or if you transfer funds from your wallet and get the address wrong, there's no one to call to claw it back.

Cryptocurrency is transforming how people can transfer money - I could get a new customer in Mumbai, India and instead of having to worry about using Western Union, Moneygram or PayPal, they could literally send me the equivalent amount of money that I'm charging for my copywriting services in AUD, in Bitcoin, Ethereum, Ripple or Litecoin (or any of the other 1,500+ coins now available).

And the best part is that it can happen securely in seconds... No waiting for payment settlements, no risk of forged payment receipts, and no government restrictions on currency transfer limits. 

Think Facebook has changed the world? Wait until everything from food sources to internet services are recorded, tracked and transferred using blockchain.

The best is yet to come.

 

PS: If you're launching a new Cryptocurrency coin or token via an ICO (Initial Coin Offering), then talk with me about producing the right sales copy to suit your potential market. I'm a cryptocurrency investor and have written for ICOs previously, so I'd love to hear about your project. Get in touch with me at rob@getcopy.com.au