Good morning Steem friends
Something that concerns all of us is money, without it the world as we know it would cease to exist. In the old days something we were taught was to not put all our eggs in one basket coz if you lose that basket you lose everything.
In a way the fiat money system is one basket so I decided to take a deeper look at the digital currencies that are really starting to emerge as viable options. As much as I love bitcoin and litecoin etc and they offer good asset value I really wanted to be involved in something that offered more than just investment value.
What do I mean?.....What about the billions of people who can't really afford to put money aside, in fact can't even afford to participate at all. Don't even have a bank account. WHY? Because of FEES.
Lets say you need to send instantly a small amount of money so someone maybe a family member far away can buy medicine. At the moment you cannot do this because the fees are more than the amount you want to send and its not instant.
What if you could send via your phone $5 to someone on the other side of the world to their phone instantly and with no fees and they could buy a goods at the retailer using their phone and no fees for anybody.
THIS IS A GAME CHANGER and it is the reason I am buying Iota coins now while they are cheap. Currently Iota is only traded on one exchange Bitfinex yet it has a market cap of approx 2.3 billion USD and a 24 hour trading volume of 15 to 24 million dollars. I have found a place here in Australia which let me buy Iota and then you have the choice of loading your Iota wallet for free or they will hold for you.
Yes they have around 2.7 billion coins in circulation but there will be no more coins made so that takes care of inflation.
I will do a more in depth review of Iota in part two because it can do much more than the above. It is really designed for machines to interact with each other to automate payment processes for amounts even of just a few cents.
One day soon I will be able to buy you a cup of coffee even though we are thousands of kilometers apart. On that thought cheers for now and stay safe.