Can Cryptocurrency Save the World?

Stigydor The Cryptonator aka Michielsen Yaron provides our readers with an introduction to the next digital revolution, Cryptocurrency, explaining how it works and why it will have a large part in our future.

Over the past four years I have amassed a healthy and comprehensive crypto portfolio and a firm grasp of marketing trends through research, analysis, networking, social media and in this game a degree of good fortune.

Now I want to use my unique skill set to support people and in some sort of way prepare them for the next digital revolution that will hold Crypto, Creativity, Art, Knowledge and Peace. Here is a small introduction towards Cryptocurrency.

First of all, what is Cryptocurrency and what does the blockchain technology do?

A cryptocurrency is a cross between a currency and a digital asset. Like a currency, you can use it to pay for things. Like a digital asset, you can invest in it for long-term gains. You’re not buying a currency; you’re buying the idea behind the coin, which is supported by an underlying blockchain technology, the Blockchain refers to a decentralised public ledger which records transactions across many computers. Blockchain has no central point, all information is stored in many different computers at once across the internet, and this makes it hard for anyone to break into a single computer or steal the data.

Using Cryptocurrencies.

Using cryptocurrencies isn’t like using flat currency. You can’t hold cryptocurrency in your hand and you can’t open a cryptocurrency account. Cryptocurrency only exists on the blockchain. Users access their cryptocurrency using codes called public and private keys.

It’s a bit like sending emails. If you want someone to send you an email, you tell them your email address. Well, if you want someone to send you cryptocurrency, you tell them your public key.

Now, if you want to read your emails or send an email, you need to enter your email password. This is how private keys work. Private keys are like passwords for cryptocurrency. Public keys can be seen by anyone, but private keys should only be seen by you. If there is one paramount detail you should learn from this What is Cryptocurrency guide, it’s that keeping your private keys safe is extremely important!

What does this mean for the future?

It means it has a universal bookkeeping “Blockchain”. Small example, creating a global system for charities that work. This means it can take away corruption/fraud, most of the money people donate ends up in the pockets of the leaders at the top. The database is stored on a network of thousands of computers called nodes. New information can only be added to the blockchain if more than half of the nodes agree that it is valid and correct.

Can Cryptocurrency Save the World?

Cryptocurrency has a lot of critics. Some say that it is all hype. Well, I have my own opinion. It feels like the internet in the late 90’s, they couldn’t understand it, but when it is made consumer friendly, more people will get it and use it. Cryptocurrency is here to stay and it is going to make the world a better place in my opinion. The regulations and infrastructure are all being built this year in the crypto space and I think we are going to see a huge mainstream adoption in 2022. The centralised organisations have let us down and in 2008, banks cost taxpayers trillions of dollars causing the world economy to fall apart. Blockchain technology could be used for elections in some of the most corrupt countries in the world... It is a voice. Free elections could be held without fear of violence or intimidation.

In the end cryptocurrencies can help make the world a fairer, safer and more peaceful place for us all to live in... Let’s see what 2021-2022 will bring us!

After being a straddletruckdriver for 13 years in Antwerp, Michielsen Yaron took the big step of starting his own company as a designer, futurist, influencer, crypto advisor and community manager. He is a representative of Mobiepay where he was one of the first investors two and a half years ago. He also provides graphical services and web design.