How do you replace all of the Federal Reserve Notes in circulation with an entirely new currency? How do you do it without panic or a run on the Banks?
You already have the answer. It’s likely in your hands or your wallet. What is a dollar represent anyway? What’s the difference between having a physical piece of paper in your hand or a dollar in your digital wallet on your phone? Do you think the dollar bill entitles you to anything different than a screenshot of a dollar online?
We A banding the concept a paper value money decades ago. The advent of the Internet in the 90s and this marshaling in the 2000s buried what was left of physical currency.
You don’t need to understand how cryptocurrency is programmed to benefit from the advantages it offers.
Your paper Dollars can be ripped, lost, stolen or burned. Cryptocurrency, if mildly protected by the owner, has none of these risks.
The creates a seamless transaction across any digital platform. Wire transfers would be eliminated. Deposits could be handled instantly and without clearance delays. The language of finance could be standardized and ultimately much easier for the average American to understand. Much easier for the system to self police.
Many modern consumers are familiar with Square Inc. The online merchant services portal used by many retailers in both freaking water and online spaces. Their new “cash“ app allows you to invest in bitcoin and presents a very clear introduction to the world of cryptocurrency. It’s simple, straightforward and some thing that any user of PayPal or Venmo will immediately benefit from.
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