There’s a number of reasons why cryptocurrencies have been so inherently popular. They are safe, anonymous and utterly decentralized. Unlike conventional currency, they are not controlled or regulated by some singular authority, their flow is determined entirely by market demand. They are also nigh impossible to counterfeit, thanks to the paranoidly complicated code system that encrypts each and every transfer, ensuring complete anonymity and utter safety to each and every user. They even make for a genuinely rewarding, if risky, investment endeavour, despite the fact that any financial advisor will caution you against them. Therefore, despite the admittedly high stakes that this sort of dealing entails, not to mention the lack of any government agency to lend credence to them, cryptocurrencies can only thrive and multiply.
Whilst that scenario is the dominant position….it is a scenario that is changing. The owners of DasCoin have considered the short comings of the main cryptocurrencies operating in the new realm of money and placed before the world an alternative digital asset proposition.
“I am personally excited for the future of cryptocurrencies and blockchain technology in general. Current innovations such as Bitcoin, Ethereum, and others are just the beginning for this technology that can help revamp many industries. There is plenty of opportunity in this space.” – Chalmers Brown, Forbes
In 2008, when a whitepaper was released under the pseudonym of Satoshi Nakamoto, detailing what would be widely regarded as the first modern cryptocurrency initiative. The idea combined concepts such as decentralization, perfect anonymity, finite supply and blockchain technology to pave the way for what we know as Bitcoin. Nakamoto, a pseudonymous individual or individuals operating under a fake name, released Bitcoin to the public in 2009. This idea was soon taken up by a gazillion different startups such as Litecoin. In 2010, Bitcoin received recognition as a proper currency after merchants such as WordPress, Expedia and Microsoft began accepting it as a mode of payment.
While Bitcoin experienced a drop in its prices, a cheaper cryptocurrency by the name of Ether reached its all-time highs at $50 a unit. While Ether’s current setup prevents it from being used as a direct method of payment, the cryptocurrency still seems to have a bright future ahead thanks to the concept of smart contracts. In the meantime, more privacy-concerned cryptocurrency alternatives like DasCoin are starting to gain prominence in favour of institutions such as Bitcoin, which despite their vigilant security measures, continue to have loopholes that could be exploited for access to personal data.
Another interesting turn of events is the acceptance of Bitcoin in the educational industry, what with the University of Ohio hosting classes about Bitcoin and other cryptocurrencies as a part of its MFE curriculum. Several colleges have even begun to accept Bitcoin as a means of payment, a move which will clearly help bring this alternative currency to the mainstream. The acceptance of Bitcoin, in general, has already led to a few companies considering genuine investment opportunities in the currency, further fuelling its journey to mainstream.
Will cryptocurrencies be the new norm after 2017? Perhaps it is too soon to tell. But if there is one thing we know for sure, it is that the currency seems to have a wide appeal with a particular section of technologically-savvy individuals, a point that is sure to soon work in its favour and even more so as they attempt to go mainstream. DasCoin will be BitCoin/Ethereum/DASH on steriods over time. If you want to cash in on the cryptocurrency BOOM ask me to show you how!
Acknowledgment: Harold Stark FORBES