Cryptocurrencies have now become the money/currency of everyday life for all developed countries. Especially big countries like America have taken crypto currency to a unique peak these days. To be honest I think crypto currency is very important for us at present time. Not only for daily use, this crypto currency can be used instead of banking sector. I will try to explain some important reasons below. So that those who have some misconceptions about crypto currency that will be removed .
Many of us may not know why cryptocurrencies were originally invented. In fact, in 2008, there was a huge collapse in the banking sector of the whole world. All the banks could not pay their customers one and a half dues due to which a panic started in the whole world. And as a solution to all that, Bitcoin was invented using this peer-to-peer network. A Bitcoin whitepaper was then released that explained how it would work and how it would allow users to send money from one user to another without any banking system. In fact, the entire blockchain system in that what paper.
A few days ago, there was a lot of fuss about the banking sector in America. Within a few days, about 3 banks have gone off. There are many mysteries behind the closure of such big banks. Although I don't know if any user had to suffer with their own money. But if this continues then at some point the global banking system will be affected in a very bad way. For which we may have to suffer a lot. So I think if every country in the world validates the blockchain system in their country then maybe our crypto could be the world's first transaction system.
In the end my point was that those of you who are still harboring misconceptions about crypto, look at the developed world and maybe you will understand the importance of blockchain in your life.