part 2/3
You can find the first part HERE
Lucky for you I am just going to say 3 words: « it already exists ». Because yes, it exists, and not since just a few months ago but already a few years. All this story began with the Bitcoin, a crypto-currency. Cryptocurrency, another barbaric name that I am about to explain. I see you coming already, a cryptowhaaaat?
I won’t blame you, on the contrary, I was in the same position not a long time ago. A crypto currency is an digital, decentralized currency that generate its own currency and validate its transactions. As you noticed in its name, it is based on cryptography to guarantee anonymity and security. To make it easier: a virtual currency that does not belong to any board or company, but to its users, which has no borders, and with is encrypted in a way to be technically secured. Like all cryptocurrencies, the initial value of bitcoin was less than 0.01 dollar up to stability around 200 dollars today ( well almost 4000 dollars today! BIG GAP since I wrote this). You understand yet a problem: its stability. A little week only can show consequent fluctuations. How can you handle your business when you don’t know at the end of the week that the product you sold on monday at 1 BTC will earn you 200, 250 or 180 dollars? Bitcoin has a lot of advantages, but also quite a few defects, and that is perfectly normal, since it is the first one!
But we all know that in the digital world, everything evolve at an incredible rate and numbers of actors have tried to be the first to achieve THE solution, without real success. Bitcoin is therefore a cryptocurrency 1.0 like a lot of other actors that you can find around on the internet. But the cryptos 2.0 revolution is already happening, and BitShares like many other is one of them. And that is the subject I will talk about more in details right in the following.
BitShares is, like we said earlier, a crypto 2.0 and I won’t explain how it works, but what BitShares does. Like said before, you already know the cryptocurrencies advantages. Well BitShares comes and shutter this concept, based on the same technology as the Bitcoin but correcting and improving a lot of aspects: cost of its operation, the stability of its valor and the speed of its transactions. First of all BitSahres can’t be really considered as a cryptocurrency, but more like a cryptoshare. Each BitShares is a part of the decentralized company BitShares, and if you have shares you « own » BitShares too. Inside this digital platform, multitude of decentralized companies will be able to use its limitless possibilities and abilities of its technology. The first implemented is the exchange platform of shares and FOREX (FOReign EXchange). And that is where comes the notion of stability in BitShares. You can at any time convert your BitShares in BitEuro, BitUSD, BitGold, BitSilver, well, any value or share that exist in the traditional financial system. But you shall say: how can it stabilize your money? Well very easy sir! A bitEuro will always be the valor of 1 euro in BitShares, no matter the price of the BitShares. No need to directly run into an exchange to put back your cryptocurrency in dollars or euros to ensure its value. All of this is possible in this financial world. Your purchases, your transfers of money are now totally possible no matter where you are and all of this in just a couple of seconds and with a cost below a few cents.
But why invest in this project and not another one?
don’t miss the end in the last part tomorrow for the answer, well in my opinion ;)
