the concept of cryptocurrencies
History can be debatable but it is presumed that more than 2500 years ago, the first coins were introduced and about 1400 years back, the Chinese had been the first to make use of paper bills (mostly by means of privately released bills of credit or perhaps exchange notes). Some of the early on forms of historical coins had been minted by simply merchants because tokens for use in trade orders. Although it may have taken generations for money and conventional paper notes to determine its root base across the world their commercial energy was thus impactful that even today each of our interpretation of money heavily relies upon it.
Fast-forward to the 21st century and what we happen to be staring at is definitely cryptocurrencies and with much enthusiasm, in the technology to it ” the blockchain technology. This article is simply an attempt to understand some of the probable reasons behind the growing popularity of cryptocurrencies in India and to highlight the emerging reputation of blockchain technology.
Global attention and novelty
In the last couple of years, the concept of cryptocurrencies has gained significant global attention a thing that India has become closely observing.
It might not be very hard to believe that such a period of observation might have served as a head start for a lot of fintech fans in India. The originality factor additional sustained the interest and fascination in cryptocurrencies.
Anticipation of returns
Anticipating successful returns by an investment is a natural propensity of an entrepreneur. The mind-boggling surges in the prices of some of the most popular cryptocurrencies over the very short while of time may possibly have appeared to be very luring from a returns point of view but the high prices of these popular cryptocurrencies also get them to unaffordable for the small investors and one of the probable final result of which is the fact it could drive these little investors to explore other cryptocurrencies with the expectation of identical levels of comes back as with the favorite cryptocurrencies.
However , revenue is only among the many factors intended for evaluating and examining a great investment option. Elements like working out prudence and assessing the prospects of a project which is why investment is sought can also be very important.
Profile of the tiny trader
Another aspect for the buoyancy in cryptocurrency trading in India could be the account of the tiny trader ” young, tech-savvy and compliant ” a phenomenon emanating from favourable demographics.
Growing recognition of blockchain technology?
In respect to a multimedia report, Reliance Jio Infocomm Ltd is definitely mulling to produce its own cryptocurrency, JioCoin and is also also intending to build a crew of young professionals to work on blockchain technology.
Kodak is additionally planning to produce its own cryptocurrency called the KodakCoin ” meant to act as token inside its new blockchain-powered KodakOne platform ” a rights management system for photography enthusiasts.
One more company ” Obizcoin is planning to deliver its tested solutions through BOT. OBIZCOIN is designing a Smart Business Process Automation BOT depending on Artificial Cleverness and Blockchain Technology.
- Category: information technology
- Words: 532
- Pages: 2
- Project Type: Essay