The currency of the future for some, cryptocurrencies are widely known for not coming in the physical form.
Since the beginning of the world, human beings have been the leaders of change. And now technological advancements are transforming every area of our lives. Our lifestyles, habits, economies, and many more… In short, ever since it became an indispensable part of our lives, technology has taken on the task of leading our lives. And now, I would like to look at this transformation through a narrower lens. Another indispensable part of our lives, from the basic needs of individuals to international relationships, money was discovered by the Lydians in the 7th century BC. Then the world assumed a whole new order economically after this discovery. The pioneering force of this new order, money started to be used in many facets of life by societies all over the world. And today, we talk about the relationship between technology and money. And the most current example of this relationship is the cryptocurrencies.
A Non-Physıcal New Alternatıve
The currency of the future for some, cryptocurrencies are widely known for not coming in the physical form. Very different from what we use in our daily lives, cryptocurrencies are completely digital. Another feature of cryptocurrencies, also known as “virtual money”, is that they are totally independent… Used in travel, real estate, social media, education, motor vehicle industry, retail sale, digital publication, art trade, game industry, and many other areas today, cryptocurrency continues to increase its presence day by day.
The First Cryptocurrency Was Developed In 2009
The historical development of these currencies takes us back to the early 1990s. However, the first actual cryptocurrency Bitcoin was developed by a person, or persons maybe, named Satoshi Nakamato in 2009. And then, Bitcoin, which became substantially popular over time, became widespread all over the world and started to be used for various financial transactions. And cryptocurrencies used around the world are not limited only to Bitcoin. To further my argument, I would like to tell you the top 10 cryptocurrencies in the world as of 2019 determined by Weiss Ratings. The currencies in question are Bitcoin, Ethereum, Ripple, EOS, Litecoin, Binance Coin, Cardano, IOTA, TRON, and Monero.
Turkey’s Cryptocurrency Is Contained In The Development Plan
Turkey also rolled up the sleeves to get into the cryptocurrency market and included the “Blockchain-based Digital Central Bank Currency” in the 11th Development Plan for the 2019-2023 period. With the decision, Turkey aims to have a strong presence in this market. However, time will show the fate of the cryptocurrencies, whose legal status varies by country and which has received serious criticism from some circles for its credibility.