What is the digital currency C r y p t o c u r r e n c y
Are fully encrypted digital currencies based on the principle of peer to peer and means the direct interaction between the two without the existence of an intermediary behind it or control the price and is the goal created for it from the outset, where I want it to be a free currency Controlled by the aim of liberalizing the economy and removing the traditional currency of the currencies controlled by several parties. Digital currencies are currencies designed primarily to trade in the virtual world of the Internet, but this does not prevent them from having a strong value on the ground where you can buy anything and convert it to any paper currency you want.
How the digital currency appeared
The invention of the first digital currency, Bitcoin, is attributed to a Japanese person called Satoshi Nakamoto. In 2008, this unknown person published a research paper in which he presented his idea of using digital money as an electronic financial system that relies on direct interaction between users without intermediary. The first launch of Bitcoin's digital currency was in 2009, when Nakamoto released an open-source program with a license from MIT. The system of transactions for this currency is based on two things: the first is the electronic signature of each property of the currency, The second is the Block Chain system, which is a huge record to record all trades in this currency and track its history since it was created in databases that can not be tampered with.
How to create a digital currency
The digital currency is formed by open-source software that enables anyone anywhere, anytime, to review the code and start producing digital currencies through free special software that solves complicated calculations, called mining. By digging for gold, for example, where people are digging in the ground to access gold and in the digital currency we are drilling in the calculations and Algorithm algorithms to get some currencies, but it has become difficult for individuals recently as he and with the large turn on the digital currency has become Exploration p They require very sophisticated and expensive means, so big investors start to invest their money in mining companies and provide this service to individuals.
Who controls and manages the digital currency
No one can control digital currency technology except the users themselves, who are spread all over the world. People and people.
The currency revolution is a figure on the traditional financial system
All know the complexities and costs of the traditional financial system as banks are mainly the role of mediator between investors and savers and borrowers and the work of banks to circulate people's money for them in exchange for very generous commissions, which made the banking institutions to collect large sums of money re-lending to people and bodies at a great benefit, Which has become a number of questions about the fairness and legitimacy of banking systems and the huge numbers resulting from financial intermediation by banks and here is the strength of the alternative to the digital currency as it eliminates all these burdens and complexities in being completely independent, and not subject to any party and Adtha are directly without the need for mediator also, that the transfers are made electronically and quickly without the need to fill any papers or checks, and many other advantages, and all this in exchange for simple administrative commissions received by the Governor.
The future of digital currency
As the digital and technological revolution known to the world, it is difficult to imagine the future without digital currencies that respond to the requirements of the era of speed and technology. Many countries and international banks have now started adopting the idea of digital currencies. In Dubai, where the strength of digital currencies was recognized and the need for tomorrow's world especially as statistics indicate that there are 10 million users today for the Bitcoin coin, which leads the digital currency market by a large margin than other currencies, The financial sector invests in investment, and here we mention Goldman Sachs' investment of $ 50 million in the emerging company Circle Internet Financial, which provides storage services and the use of content. Also launched NASDAQ for the first time blockchain product dedicated to it, Nasdaq Linq to be the first global exchange dealing with technology Blockchain, this is in addition to the treatment of shops and hotels and even doctors to accept payments and the development of models of the ATM, especially the Arab countries had a chance to adopt the Emirate of Dubai in its markets for this technology to be the first Arab country to adopt the digital currency Cryptocurrency.
Digital currency and wealth industry
In 2010, a pizza slice was sold in Florida for $ 10 million. The young programmer, Laszlo Hanyecz, offered $ 10,000 to the owner of the shop for a chip that approved and received at his electronic outlet 10 thousand Betcuene, which was worth ten cents Only to become the owner of the shop after years of the rich Florida, as the currency continues to rise to the extent of thousand dollars today, the owner of the pizza restaurant is not the only one who made a fortune from the digital currency, but thousands around the world who believe in the idea and took the initiative, If it is difficult at present to invest in the uncle Of Alpetkoan Due to the high price, there are several promising currencies poses real opportunities for investment in the topics we will look to come.
