There was once the world where people relied on a financial system based on fiat money, banks, and pension funds. Everyone aspired to receive in their retirement a pay based on the years of production in their work.
With their payroll, they saved and invested some in houses, others more daring in “bag”, believing that investment was like sowing and that at the end of the season reaped their fruits. At that time also believed in the functioning of States, it was believed that an official or politician was a public servant and would administer with good judgment everything that the State collected through taxes.
Over time other people who were close to new technologies and media, computer science and the Internet were born and began to exchange ideas on how to improve that economic system because they saw what others did not see. That money and goods in general, can not be trusted to strangers.
Does this story sound to you?
Yes, it is ours, everyone’s. Until the year 2008, it was logical to think of saving in a bank, in having a fund for retirement. But from that year a generation was stunned to see how everything they had been taught was a big lie and began to hear new words and damn Subprime, risk premium, risk investments, etc.
At that moment, the word Bitcoin, a currency based on blockchain technology, was transparent and decentralized, fast and free. But it was in 2008 when many adopted it as a form of reveldía, a way to get away from the banking system.
If this were a story, all those who poorly spent the funds and played against their savers would have gone to jail, would have returned the money and those who had lost confidence in the banks would have recovered it. But this is not a story, it is life and nobody went to jail and nobody returned anything. Instead of having a strict response by enforcement agencies, their responses were swarming and unclear.
Over the years the distrust no longer rests with the banks, but in the States adding the word corruption to all newsreels, no matter what country they are.
So the natural step to the cryptononedas by a generation has been occurring more and more in recent years.
Whether as a way to invest to grow their money, as a method of exchange through the internet or as savings, under 40 have found in virtual currencies a shelter of value. Although there are barriers to popularity, for example the need for familiarization with the Internet and the computer media to understand the operation of Blockchain, the cryptomoneda and thus gain sufficient confidence to immerse themselves in the ecosystem.
But, if the generation of children under 40 are already adopting the criptomonedas as a means of securing their assets. What about the next generations?
It is obvious that those who were born between keyboards, screens and the Internet know more about Bitcoin and their confidence in a virtual currency is greater, in large measure, because they started to exchange virtual goods through online video games and receive rewards for themselves Games for your work on the computer or console Why would not it be normal to pass this mode of interaction to other parts of your life?
In this generation we are also naturally specialized programmers, a group of people who have been creating their own language so that new crypto-coins alternative to bitcoin appear that, taking advantage of Blockchain technology, improve some aspects of the Mother Currency or give other uses.
Beyond their potential long-term financial rewards, many holders of the criptomonedas world view these as a vehicle for social change. While many currencies have no value beyond serving as potential alternative currency, or started as a joke that have already been popularized by speculators (such as Dogecoin, whose logo is an internet-meme dog and now has a market capitalization Market of about $ 200 million), others – namely, Ripple and Ethereum – have significant real world profits and are being adopted by banks and financial institutions.
Today the volume of business of cryptomonedas moves daily 5 billion dollars and more and more people use these values as their own investment fund, without intermediaries, without banks. Let us not forget that we live convulsive political moments, which makes the fiat currency fluctuate in unpredictable ways, so that keeping the value in a place far from the state decisions, is a way to secure the future.
This mode of negotiation will evolve, but it will not disappear, not at least in the medium term. Because now, in forums or portals of exchange of criptomonedas by content or videojuegos; We are under 20 years old. Letting us see what the work will look like in 10 years. As I said before, it is normal for them to receive rewards for playful activities on the internet and also to buy virtual products that make them more productive or stronger within a Game. So, getting a “reward” for sharing content or having a wallet open is not something you need explanation for.
And the next one, well … I think you will not even know the physical currency as such, seeing how banks are already using mobile applications for payment.
Writer by birth, curious by profession … I learn a little more every day from the cryptocurrency.