September 18, 2017
Andrea Loubier , CONTRIBUTOR
by Forbes Contributors expressed in the article, where the cryptocurrency market heading.
surveys indicate that more than 90% of Bitcoin users are male. According to The Cointelegraph, only 1.76% of the Bitcoin community are women.
What’s all the hype about cryptocurrency, Bitcoin, and blockchain technology? Cryptocurrencies like Bitcoin are digital money that’s decentralized (no banks needed!), and that offers the potential for secure – and transparent - online transactions.
It’s the encryption techniques behind blockchain technology that make digital currencies possible. A blockchain is a public electronic record of every cryptocurrency transaction that’s ever occurred. Because these records can’t technically be modified, businesses are beginning to take notice of the enormous market potential of blockchain technology.
Where are Cryptocurrencies Headed?
Deloitte has claimed that 10% of global GDP will be built on blockchain applications by 2025. Some of the exciting possibilities that exist with this new technology include:
Using cryptocurrency to power the Internet of Things (think consumer devices like vehicles and washing machines buying their own oil or milk).
Using software in the form of “smart contracts” to store, verify, and execute retail or ecommerce agreements (terms and events are recorded in secure blockchain databases).
Combining blockchain technology with crowdfunding to improve the accountability of businesses seeking capital.
More uses for blockchain tech listed here.
Individuals and commercial entities alike are also getting involved with cryptocurrencies through Initial Coin Offerings. ICOs are much like IPOs (Initial Public Offerings), but company “shares” take the form of cryptocurrency tokens.