It is high time to talk about cryptocurrency, otherwise known as “crypto,” but where to start? Cryptocurrency is the broad term for digital currency or digital money. Blockchain is a technology that, among other functions, enables the existence of cryptocurrencies. Bitcoin is the best-known form of digital currency, although there are now more than 8,000 different cryptocurrencies many of which have no following or do not trade.
If all of this sounds too complicated for a Friday morning, read on anyway. We are all in this together. The diagram below first appeared in a May 2019 edition of TGIF 2 Minutes to illustrate how payment methods have evolved from Cash (far-left) to newer and often more convenient forms such as credit cards (“CC” in the diagram), then PayPal and Venmo (the “P” and “V”) and now digital forms such as Bitcoin (the “B”, far-right on the diagram). The world has rapidly gone digital in hundreds of ways including social and money.
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