Features of blockchains:


- They’re practically immutable, since altering any information would require enormous computing power, and the longer a blockchain becomes, the safer it is.

They tend to be transparent, since typically anyone can see the data on a blockchain (like Bitcoin, for example) using a “blockchain explorer” that lets you view all transactions. Some blockchain technologies, however, offer more anonymity.

They tend to be decentralized, meaning there’s no central authority behind them – unlike a traditional database, which can be shut down or censored at the will of its owner. And even if part of its network goes down, a blockchain will still remain operational 24/7. But there are blockchain projects with a more centralized approach.

All these features combined offer hope that many of our daily routines can become more effective, transparent, faster, and cheaper.

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Satoshi Namakato’s

Since computers don’t have biases they neither need money or power. This could have been Satoshi Namakato’s thought when he invented bitcoin using the blockchain technology in 2008.
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"Profit at any Cost"

The problem is middleman is hungry for power and money. Their motto has become “profit at any cost”, to support producers and to empower the poor, we need middlemen to act ethically. That’s almost impossible to achieve, but what if we can replace middleman with an autonomous system?
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50% Lose

Sara writes fiction books, she publishes them on Amazon. She’s upset because Amazon takes 50% of the sale as commission. That’s unfair because she alone has put in the efforts of writing and marketing.
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Below Poverty Line

Roopa lives in one of the remote areas of Delhi. The government of India has allocated her few resources of food every month. Since she belongs to the BPL(Below Poverty Line) category. The government uses a middleman to distribute these food resources. Only one-third of the allocated food resources reach people like Roopa, the rest is sold by the middleman for profit.
 

7 Benefits of
Decentralized Currency.

Understanding Centralized and Decentralized Currencies.

A bank-less currency is free of national monetary policies. For residents of countries that have destabilized fiat currencies, a decentralized currency can serve as a stabilizing agent and an alternative.

A decentralized currency insulates customers from bank failures and collapses, as well as exuberant bank fees and aggressive bank policies.

Payments are borderless, allowing for seamless and cheap international payments despite current limits on transnational fiat payments.

Decentralized currencies are immune to inflation or deflation.

The only requirement for using decentralized currencies is the ability to obtain and use a wallet. This makes decentralized currencies attractive to the underbanked/unbanked populations.

Decentralized currencies are not subject to geographically-based exchange rates, meaning that goods and services bought with decentralized currency will not be devalued due to tariffs or unfavorable changes in national monetary values.

Decentralized currencies are a real-world demonstration of blockchain technology, fueling further development of decentralized applications.

25%

To understand decentralized currency, you must understand how currency works today.

Price Volume (24h) Change
Bitcoin $6 345 $3 410 520 +0.4%
Ethereum $435.65 $1 418 630 000 +1.3%
Dash $229.19 $153 088 000 -0.9%
Litecoin $80.53 $283 573 000 +2.2%
Monero $127.35 $41 956 900 +3.75%
Steem $1.26 $902 686 -2.88%

Most nations adhere to the fiat currency model. What this means is that all currency value for such a nation is held by a central bank, with that value being backed only by the central bank’s willingness to honor the obligation. As the value only exists with the bank – as the bank defines it – the bank is free to adjust the worth of that value to meet certain funding obligations or goals. This may be to the detriment of the end-consumer. This value is represented in physical currency – paper bills, coins, and bank instruments such as bank transfers and certificates of deposit. While this physical money represents ownership of the equivalent value at the central bank, the value never leaves the bank unless it is transferred to another bank. In other words, the value of the money in your pocket right now will always be controlled by a central bank that may be acting outside your best interest. Decentralized currency is different. Decentralized currency’s value is represented by the currency’s “coin” – an encrypted piece of computer code that is difficult to reproduce, but easy to verify. This “coin” has two “keys”: a public key that anchors it to its hosting blockchain or publicly distributed ledger, and a private key that infers ownership and is held in the “coin’s” owner wallet. A “coin” or – more accurately – a coin’s private key can be transferred peer-to-peer. What that means is that all that is needed to transfer a coin is a recipient with a compatible wallet. The value of the coin is determined purely on the current demand of the coin, without a central authority having influence over it. What this means is that the value conveyed by a coin is fully in the possession of the end-consumer and cannot be inorganically changed.

Decentralized currencies represent an evolving view of how information can change the world. From the way you use and spend money to the way you communicate to the way you vote and register for services, blockchain technology bears the potential to change the conversation on how everyone works and lives. Be the first to know what is going on in the world of New Finance. Sign up for the Bitcoin Market Journal investor newsletter today.

Author: Frederick Reese is a New York-based politics and financial data reporter. He is a frequent contributor to bitcoin, political, and financial publications.