Crypto has been the topic of millions of headlines in the last two years. Ever since the pandemic started, people started to figure out just how useful Bitcoin and altcoins really are. Every sector in public and private domains is slowly adopting some principles of blockchain technology.
Making payments has never been easier. Value can be stored forever without the possibility of change or manipulation, and assets like Bitcoin can be considered long-term investments. The history of this space goes back decades since the concepts of cryptography were introduced to the world of computer science. Click here to read more.
The technology has evolved so much over the last decade, and now there are more than 10 000 different coins, which just proves how much interest and demand there is in the niche.
Slowly but surely, people are warming up to the idea that financial systems need to be accessible, secure, and transparent. The current centralized financial system of the world continually fails, and inflation is something that we all wish could disappear. The introduction of decentralized finance offers transparency and more security, which means that some processes in the banking system are going to be completely replaced.
New Dapps enter the market, which allows people to use peer-to-peer lending, borrowing, trading, and investing without the need of a bank or Wall Street to look inside their pockets. This catalyzes a revolution since the whole concept of regulation is through algorithms instead of people. Visit this page to read more https://www.coindesk.com/layer2/2022/04/21/calling-out-the-sexism-in-bitcoin-crypto/.
The rising popularity, accessibility, and demand for exchanges just go to show how far the field has progressed. More changes are going to enter the financial system, and soon enough, the entire world will be running on smart contracts and blockchain technology.
What is the value that you’re getting?
A lot of people like to use the argument that cryptocurrencies don’t have intrinsic value, such as real estate or gold. That’s a fair argument, but the same thing can be said about the dollar. It’s just a piece of paper with a few numbers and letters written on it.
The only reason people are still using it is that the government and central banking system force them to do it. A hundred years ago, everyone was using gold. This makes the argument invalid based on historical facts.
Now, one of the best reasons to use crypto is because you can make payments without the use of a third party. There’s no need for a payment processor like PayPal or Venmo to jump between your transactions and ask for information.
When you send a coin on the blockchain, only you and the receiver know who’s who. Everyone else just sees that person A sent money to person B. Even though the transaction is completely transparent and the entire world can see that it happened, you retain full anonymity. That’s something that banks can’t brag about.
Another form of value is digital scarcity. Projects like Bitcoin have a limited number of tokens, which means the shortage influences value over time. Additionally, projects like PKT Cash have a mission to remove internet service providers away from controlling the internet.
There are also digital representations of stable coins such as the United States Dollar, the Euro, gold, or oil. Instead of buying an ounce of gold, you can now go online and buy proof that you own it.
The companies that issue these tokens must be transparent in their holdings to allow people to buy attached commodities. Finally, there is room for people who don’t have access to the traditional banking system to use the same tools and services as the rest of the world.
What about PKT Cash?
Governments and banks don’t like the revolution that’s happening. They want everything to remain centralized because that’s one of the best ways to hold control over the mass population. One of the ways in which they can do that is by exercising total control of the internet, which is the current state of the world.
Internet service providers choose how to distribute their bandwidth, and if the government decides that they shouldn’t work in a specific way, they must abide by the rules.
That’s where PKT Cash comes in. This is a project on coinmarketcap that’s determined to remove ISPs from the picture completely. Instead of having massive companies that distribute large networks, the entire world wide web could sustain itself if enough people pitch in some of their data for a while. Here’s how that’s going to work.
If you’re paying for a plan that lets you use 100GB of data per month, and you’re only using 20GB, then the rest of those 80GB remains unused. Installing a PKT device will use that remaining data to create a new network that’s going to be completely decentralized. This sounds wonderful on paper, but why should you do it if there’s no reward?
That’s why the developers created tokens to reward their users for sharing their data. Now, you can pay your internet bill with the money you get from the tokens and become a part of the cryptocurrency revolution. Places like coingecko.com have live price indicators that you can see.
Over time, the network is going to have enough bandwidth to be completely self-sustainable, and centralized bodies like banks, governments, and internet service providers won’t be able to crack it. The future of the internet is going to be completely democratic, censorship-resistant, and accessible to everyone.