Cryptocurrency is the Next Technological Revolution

Human beings are the smartest creatures currently living on earth. If history is anything to go by, human beings have been able to achieve extraordinary achievements. Some of the achievements made are due to ingenious people and their inventions that have had huge impacts on the world. A good example is when the early man discovered fire. From the discovery, people have been able to have many accomplishments and use fire for many things. Apart from cocking, fire has been used to power up locomotives from steam engines to current gas-powered engines. Fire is also used to produce many things, such as oil refineries and many more.

Although human beings might be smart, sometimes humans are also very slow to adapt to changes around them. Using the same example of fire, I am sure the society around the early man was the first to discover that they could make fire and use it for many advantageous purposes. The society around him or her was skeptical of the invention. They already had a culture they were used to that fire was disrupting, and the changes were too much for some to bear. This has always been the case with most people and inventions. In most cases, only a small percentage of the people first introduced to a new thing accept and adapt to it immediately. Here are some examples of how people were hesitant to new inventions and innovations that later were considered revolutionary to the world.

The first invention that sparked a huge uproar in society was the invention of electricity. Electricity is one of the most impactful inventions that has ever been invented in the world. The invention of electricity might be the real reason or the main platform that led to the development of all other e=inventions that have been developed over the years. The man who invented or discovered electricity was Benjamin Franklin in the 1700s. Although he discovered electricity, he is not the man who discovered the various uses of electricity. He thus made way for other inventions that would use electricity to improve people’s lives. Due to his invention, other inventors, such as Thomas Edison, were able to improve the quality of life through his invention of the electric bulb in 1879, over 100 years after the invention of electricity. During this gap, electricity did not gain traction because people were hesitant to adopt and use electricity. At the time, people said that electricity was satanic and it would finish the human race. Considering how often people use electricity these days, this might be the most ignorant idea people have ever had in history.

The second invention that led to a lot of controversy and changes in society was the invention of the automobile. The automobile invention had a lot of mixed reactions among the people and governments at the time. At the time of the invention, many people in different countries were trying to invent the first successful automobile to replace horse and donkey pulled courage. During this period, many people saw these prototypes and did not like the changes they would have on society. Before the first successful automobile was developed, some countries banned the use of automobiles, which had a huge impact on the development. Luckily, Karl Benz had just completed the development of his automobile before the law was put in place. Due to the law, he was afraid to test his invention as he feared imprisonment, but his wife and business partner had so much faith in him that she did not let the law stop her. She drove the automobile from their home to her sister’s home and back, and Karl Benz’s automobile became the first successful automobile in the world. Even though the automobile was functional, some people were still skeptical and believed that horses would remain the best mode of transport. The United States of America and the United Kingdom even had a law that people using automobiles had to have a red flag to warn other people since they did not trust their efficiency. It’s funny how times have changed, and vehicles are one of the most important parts of our lives.

The third technological revolution was the internet, which, combined with the invention of the iPhone, is the most impactful one. When the internet was developed, many people did not expect it to be successful. Some people considered it to be a passing fad. It’s amazing how people do not learn from history. The iPhone, on the other, had led to the development of smartphones, but when initially invented, it was expected to fail.

From these examples, people should learn that instead of fighting and delaying the inevitable, they should find ways to integrate new technology and inventions into society. The sooner the inventions are adopted, the faster people will be able to use the technology, and it will help improve the quality of life. People can live better and be more efficient through the inventions mentioned above. People can use their smartphones to order transportation, such as uber rides through the internet. The missing part over the years is to make life simpler as a way to pay for the services acquired from the inventions mentioned above and many more.

The new technological revolution at hand is the development of the decentralized model of payment called cryptocurrency. Cryptocurrency uses blockchain technology to develop different tokens meant for different purposes. The most common type of cryptocurrency is Bitcoin. Bitcoin was developed to be a mode of payment and a store of value or wealth. People prefer storing their wealth in cryptocurrency due to its ability to improve value rather than suffer from inflation per year. Many people have voiced their thoughts and say that cryptocurrency will fail. But instead of failing, cryptocurrency is proving to be the solution to most financial problems people are suffering from in the world. A good example is that it takes a wire transfer between people or organizations in different countries about two weeks to be processed, but it takes less than a minute to pay for goods and services through cryptocurrency. It’s about time everybody adopts cryptocurrency and enjoys the many benefits that can be realized.

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Bitcoin (BTC) $ 27,417.35 0.63%
Tether (USDT) $ 1.00 0.03%
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