A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
Bitcoin became the first decentralized cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoin’s blockchain transaction database in the role of a distributed ledger.
I can easily imagine someone, lets call him for example Gary. He will wake up at the morning as usual and would not have any idea about this. But what if everything around him would be changed during a night? Lets say there would be no cash anymore. He would be able to pay only with his mobile wallet. In a bus, for food in Tesco, bills or even his income will arive in some of the new digital currency. How would be Gary able to use all that stuff, without any preparation on this. I guess he will die on hunger.
There are thousands of new currencies right now. And each one is programed for something else. There are conferencies happening every week somewhere else on this planet. And it is silly to thing, that cryptos are just something unreal from the movie matrix.
To be honest since i started my research, i was feeling like NEO after he took the right pill. For me there is no way back, i have to accept it and assimiliate with that. But i can do even more, i can share my little knowledge to the world like i do and help people to understand, that this is not a matrix, but reality.