Cryptocurrency: Path for Decentralized Economy

In today’s financial ecosystem, the focus is on finance and not the physical infrastructure that comes along. This brings us to fintech, which helps economies work on their financial industry without working about historical records. The ecosystem is focusing on banking and not banks. But it is important to understand the reason and logic behind adopting and absorbing cryptocurrency as the new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost.   Money is more than just a medium of exchange for people. They have an emotional connection with money. This makes them more risk-averse about it and hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to. Key takeaways: - Blockchain, which serves as a building block for a decentralized economy, is the next and newest form of currency via cryptocurrency. With Change in the form of money, it is now important to understand the change in the payment system. - Among different types to cryptocurrency, when blockchain is used for the operability of cryptocurrency, it is crucial to understand how it will be a perfect piece of the puzzle for it to be used in tomorrow's decentralized economy. Therefore, it is important to understand the evolving technology and how crucial it is to adopt it in a more scalable way. - Understand the reason and logic behind adopting and absorbing cryptocurrency as a new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost. - Money is more than just a medium of exchange for people. Hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to.