Just Another Day In The Crypto World
John woke up, put on his glasses, and glanced at the clock on the nightstand. It was 7:00 a.m.
For some reason, he remembered the event which seemed quite amusing to him. Ten years ago, exactly the same day, May 22, the first online purchase with the help of crypto currency was made.
A guy bought two pizzas for a price that according to current rate would have allowed him to buy a nice house in central London.
While dressing and going to work, John did not stop to wonder how fast progress was moving, and how fast technologies were changing everyday life. But he had such a feeling that despite the fact that the cryptocurrencies remain stubbornly at the center of all our thoughts, they are still at the earliest stage of its development.
John opened the tap and began to brush his teeth. He knew how his “smart” tap he installed last week worked.
At the time of turning on the faucet, the water sensor, which operates on the basis of Internet of-Things technology (IoT), checked the balance of the virtual account and, making sure that the balance has enough funds, activated the water supply.
A smart contract, concluded with its managing organization, determined flex fares for water. Aa soon as the crane was closed, the sensor recorded the amount of water spent.
Several hundred tokens were debited from the account as a result of the implementation of the smart contract, according to the fare."
A little more than usual," John thought. He frowned, but then remembered that he still had a lot of money left.
Recently, he received part of the income in the usual fiat currency, and the other part in the tokens that were paid to him by the Internet provider.
It was quite something new! With regard to the fact that the provider had access to the statistics of his visits to web-sites, he was credited with cryptocurrency tokens.
Statistics was not tied personally to him but represented a set of generalized data. John did not mind.
He washed his face, packed his things and went out into the street.
Along the way, John continued to think about technology. Yes, a lot has changed in recent years. The world of classical currency and crypto-currency has come together in a certain symbiosis. They live side by side and reinforce each other.
It seemed quite obvious that in the future, the cryptocurrency would definitely win this race. Perhaps it will take years and even decades.But this moment has not come so far.
John was very annoyed that in those cases when he needed to quickly exchange currency, it was very troublesome.
He had to go to special ATMs two blocks away from his house or swap it through accredited stock exchanges. That was not the most convenient way, because sometimes bank transfers took a whole week.
Fortunately, he met Michael recently. His long-time friend worked in a high-tech company and was always up to date with the latest news. It was he who advised to use the new App that enables crypto-fiat payments with the simplicity, which was almost unthinkable only a few years ago.
John went through another block, then he entered the coffeehouse.
"As usual?", asked the barista. "Yes," replied John, "Double coffee and a croissant."
The next moment, he put the phone down to the terminal and made a payment. At the same time, the following two events occurred.
The coffeehouse account received $ 8.5 and an equivalent amount in tokens was written off John's crypto currency account.
"When we meet, I'll have to thank Michael again," thought John. "And yet, Crypterium is a very simple and convenient Mobile App!"