Digital Currency

By Vinayak on Friday, September 6, 2013 with 3 comments


A cryptocurrency is a form of digital currency that depends on cryptography, generally alongside a proof-of-work scheme, in order to make and manage the currency. Cryptocurrencies are peer-to-peer and decentralized, and are presently all based on the first cryptocurrency, Bitcoin


 In Kenya, this digital currency is being tried out. Currently, you can send money to relatives and friends via a click of a button on your mobile phone. If this succeeds it will go to other developing countries most notably India. According to Bill Gates, digital currency is going to be the answer for the age-old problem of corruption that India faces. It will be a lot easier for the government to track money.

It also essentially cuts the middleman off and individuals will be less prone to take high interest loans from financial institutions.  
 
 

Category: Currencies

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3 comments:

michale wong said...
December 22, 2014 at 11:44 PM

Your post is helpful, I am always searching for informative information like this. We appreciate your brilliant work please write something on SGX Singapore. Thanks for sharing with us.

Fendy Chia said...
January 20, 2015 at 4:43 AM

Generally i am looking information related to currency pairs and digital currency facts is new for me and Online Forex Signals can be helpful to do successful trade.

Unknown said...
November 27, 2016 at 8:22 AM

Very well explained. Gold is continuously doing downward due to strength in US dollar particularly after US election. In next few days, it will go down, so it a better opportunity to trade in Gold. http://goldpricez.com/today-gold-rate-in-india-per-gram

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