The Way of the Future - Bitcoin and Cryptocurrency

Bitcoin is a relatively new idea at play in the marketplace, and the marketplace of ideas. Many people are turning to the new Cryptocurrency in order to facilitate a safer atmosphere for making purchases. Bitcoin has the ability to make your purchases anonymous. Although purchases are not untraceable(that's part of what's built into the system), you can create multiple wallets to keep your identity safe

These benefits make it a very appealing option for those of us who value our money and wish to keep our transactions anonymous for the sake of our own safety. While this also empowers some less desirable activity to some, I would remind you that the system itself was not designed to empower those purchases. It was designed to allow each individual in the system the freedom to stay anonymous, and to keep the currency unregulated which allows the market to function as freely as possible.

With the recent problems with Target and Neiman Marcus systems being hacked and the collection of credit card data, the world is looking towards ways to make their purchases safer. Cryptocurrency is not quite in the headlines to fix these problems, but it is still a viable option. In fact, Canada has begun experimenting with it's own form of Cryptocurrency. It's fantastic to know that someone is taking this idea seriously! There are dangers to a Cryptocurrency, especially one run by a government. 

In order to place value within that currency, you can't mint as much as you need. Bitcoin has solved this problem, by limiting the amount of currency that it started with, and creating a cap on how much currency will ever be introduced. I cannot say that Bitcoin will be the only successful Cryptocurrency, but it has definitely set itself up for success!

Looking towards the future, we understand that our society is becoming more and more integrated with technology. As such, we need to keep moving forward and finding better solutions to problems like these. Could Cryptocurrency be the way we do business in the future? Or will a physical medium always be necessary to create value and a solid economy? There are certainly a lot of questions to be asked, and answered!