These currencies are not created by a specific government or government-sanctioned organization. Traditional currencies are created by governments (or related organizations) for legitimacy, trade, competition, and many other reasons. Cryptocurrency tends to be created by private organizations instead, and its purposes tend to be less nation-oriented. A lot of cryptocurrency is created simply to make money. Some are created specifically to fight against traditional physical currencies.
National currencies are protected by banks and a variety of government controls that generally work to control inflation, prevent malicious practices, stamp out counterfeiting, adjust related interest rates, and many other important currency management decisions. Cryptocurrency doesn’t have this kind of support (not yet, yway). It often depends entirely on miners and the encryption process for protection and control. This naturally comes with its own risks, and those risks can make people less willing to invest.
There’s no physical form to cryptocurrency. This is obvious, but think of the implications. While there are cards and similar vessels for digital wallets, there is no physical money to be stolen, transported, or lost down the couch cushions. There is also no physical way to track a cryptocurrency the way that other currencies can be tracked, and it tends to flow through less familiar international channels (as opposed to bank accounts).
Finally, cryptocurrency can be programmed. We already mentioned that some kinds of cryptocurrency are attempting to represent contracts or debt registries. That’s what people mean when they talk about cryptocurrency being programmable it allows the currency to take on different roles. For instance, certain exchanges of currency can be programmed to happen automatically when conditions are met, without further user interaction.
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Great article! I found it interesting.
Talking about ICOs, after doing your own research, also finding good ICO projects can be profitable.
I want to share with you guys this new exciting project: RAWG.
Check out this new article where RAWG is mentioned as the "IMDB of gaming" on FORBES, one of the leading global media company, focused on business, investing, technology, entrepreneurship, and leadership.
https://www.forbes.com/sites/andrewrossow/2018/07/16/3-reasons-the-video-game-industry-is-bound-for-blockchain/#69da81c87810
The ICO will start in a short period, and they are at the moment in pre-ICO phase. This is the site: https://token.rawg.io/. It's a video game discovery platform that converts your skills into goods and services (the site is already working, with more than 57,000 games in the database).
Have a look and get some information while doing your own research :)
Another interesting point: RAWG has already secured $5m USD, halfway to hard cap of $10m!