Discussion and 2 replies
As new trends in the world of finance, blockchain and cryptocurrency hold immense promise for bringing prosperity into our world. The concept of a truly shared and democratic economy is at the core of the blockchain initiative.
In your initial post, address the following:
- Discuss your experience with cryptocurrencies.
- Have you used Bitcoin, Dogecoin, Ripple, Tether, Litecoin, Ethereum, or other cryptocurrencies? If so, explain why you chose to use one of these systems and describe your experience.
- If you have not used cryptocurrencies, discuss your opinion about using them. Would you be interested in using or investing in cryptocurrency? Explain why or why not.
In your response posts to at least two peers, discuss the following:
- Explain whether or not you share a similar experience or point of view as your peers and why.
- How do you think blockchain technology and cryptocurrency might affect the economy in the future?
Post by corey
Hello class,
I have never had experience with cryptocurrency. Meaning I have never used any of the systems. I tend to lean towards using a barter system. I have invested in Bitcoin (less than $100.00) and honestly have mixed feelings about the systems. I understand that it could be beneficial for the global market and stream line some trade arrangements if you did not have to worries about conversions. I am concerned about the economic impact especially for countries that are on the extremes. For some it would be greatly beneficial and help. The less developed countries will be able to rapidly modernize. this will have an opposite effect on prosperous countries. The other concern I have is the ease at which it could be hacked. which leads me to my biggest concern which is. Digital currency is not secured against anything i.e. a countries stock pile of gold and silver.
Post by Brooke
Hi class, I have not used cryptocurrencies. My husband is very interested in them and wants to invest, but I have been very hesitant. I still prefer to use cash then debit cards and felt that it is a huge jump to have money that is internet based. We have several friends that have invested, in Bitcoin originally and have branched out, and have done very well. In Don Tapscott’s Ted talk he addresses one of the big concerns of hackability and it has put me at ease with the blockchain technology. I believe that I have a lot more research to do before I say I’m ready to invest.
References
Tapscott, Don. (June 2016). Don Tapscott: How the blockchain is changing money and technology. Retrieved on June 23, 2021, from
blockchain_is_changing_money_and_business/transcript?language=en
