The popularity of cryptocurrencies is growing every year. Over the past five years, the exchange rate of the “old man” bitcoin has grown by almost 3000%. Investing in it is the most promising investment. New currencies have appeared and are gaining momentum: Binance Coin, Tron, BitTorrent.
Therefore, it is not surprising that more and more services can be paid with cryptocurrency. Accept coins on Amazon and eBay. You can buy tickets for bitcoins on AirBaltic. Virtual Finance is also enough to work with WordPress sites.
Understanding the prospects of this direction, the entire States began to think about the introduction of digital money as a national currency. Venezuela and Saudi Arabia already have their own cryptocurrency. They are working on digital money in Estonia, Russia, and Japan. Until one of these new developments has completely replaced the existing paper money. But it’s all coming to this.
In China, a currency called DCEP has been introduced-the digital yuan. Now it has started to be tested in four major cities of the country. The experiment will involve 19 companies, including Starbucks and McDonald’s.
Today, the only drawback of the development is the lack of anonymity, unlike other cryptocurrencies. But the Chinese authorities promise to eliminate this flaw.
In the future, we plan to replace most of the country’s monetary turnover and transfer it to the digital space. Applications for the use of digital money are being implemented in four banks in the country and more than seventy firms in China.
It is likely that other world powers will follow the example of their Eastern neighbor in the coming years. And paper money will begin to disappear from circulation.