2008, the great recession - the real estate bubble burst. 📉 The result: desparation, ...
... hopelessness, poverty, crisis. 😫
Bank accounts are frozen, people can’t access their money and are looking for an alternative. Gold? 🤔
Gold is one of the most valuable resources on earth, it’s highly limited and being mined by hard manual labour. Every little block of gold is then being washed, treated, molten, and formed into bars that are transported and stored in a vault with many keys. 🗝💰
But there are some disadvantages - not everyone has enough resources or storage for a big vault with gold. It’s hard to transport, to store, and even to validate that it’s pure. 🔍
In this new age of technology, can’t there be any other way to store your value ❓
In 2009, a mysterious whitepaper was published, proposing a revolutionary new way to manage value digitally.
Bitcoin was born - like gold, it is limited, being mined, sent globally, and stored in an online vault with a very complex set of keys. 🔐 They call it the digital gold!
The blockchain is accessible for anyone, yet no government and no bank can control the funds in your wallet.
It’s secured by an extensive global network without any centralized authority. 🏛
Fast forward to 2020 📖 blockchain technology has come a long way!
In the last decade, cryptocurrencies have risen 9,000,000% (9 million percent 😵) with multiple different use cases and applications on different blockchains with communities around the world. 🌎
Lightning-fast transactions within seconds have transformed the way people send money across the globe. 💸
The blockchain economy is still young and not quite mainstream compared to the traditional stock market, but it’s growing exponentially. 🚀
More and more companies and even governments are exploring the benefits of blockchain technology:
China, Russia, Japan, and other countries are already looking at creating their own digital state currency. Big corporations like Samsung, Toyota and Walmart want to implement blockchain into their business and even football clubs like Bayern Munich, Juventus Turin and FC Barcelona setup their own cryptocurrency as a fan-token. ⛓⚽️
Blockchain will become an even bigger part of our lives in the future, which makes it essential to have basic knowledge about cryptocurrencies and how to trade them, send them, and convert them to FIAT. 💵💴💶