What is Cryptocurrency?
There are many people in the world today (May 2020) that don't know about Cryptocurrency and what it's benefits to the Global economy. This is part of my mission, to tell the world about Cryptocurrency and what it can do for you.
Here are my thoughts. We currently make use of the Fiat currency system. Which is based according to the countries economic performance which is based on the governments decision making skills. We, the citizens of a country, rely on the decision making skills of a single entity or centralized institution. If they mess up, we all suffer the consequences.
Now, imagine that there is no central government. There is no central entity that decides the future value of your currency. This is where Cryptocurrency comes in. It's based on a system that can not be altered. Its based on a system that is controlled by everyone that uses it. The value of your Cryptocurrency is dependent on the amount of people using it. Computer systems globally are all connected to verify all transactions taking place in the Cryptocurrency industry.
Please see the below video for a clear explanation of what Cryptocurrency is all about.