Fiat money and our present culture of saving fiat currency in banks is now primitive. Technology and the internet has blessed us with new ways of making and saving money. Cryptocurrencies does not only give us the opportunity of saving financial assets, it also enables settlement of financial transactions while providing disruptive means of getting old things done in new and more interesting ways.
Some business executives argues that blockchain is only useful for trading speculative currency, however, because you do not understand something does not mean it does not exit and because you cannot explain it does not mean it’s not real. From Millennials (Gen-Z) to Baby Boomers, human race has not witnessed an era like this where you can make money, tons of it, while sleeping by just doing some basic research and putting a number of structures in place.
While China and Japan are taking the lead in creating a digital version of their country’s fiat currency, other commercial banks and central banks are prohibiting the use of these inevitable tool, that will disrupt the way we perceive and settle value after we received a service or buy a product.
From my foray into the Cryptocurrencies/programmable-money world powered by blockchain, (immutable and distributed ledger system) it allows us to earn money in 5 ways;
- Cryptocurrency trading
- Cryptocurrency investing
- Cryptocurrency yield farming
- Cryptocurrency mining (PoW)
- Cryptocurrency Node Validator (POS, DPOS etc)
Let stop here. In part 2, I will discuss these 3 categories into details.