Source: CivilsDaily
Journey Of Bitcoin (December 2024 Onwards)
At an event concerning cryptocurrency, US President Donald Trump expressed his thoughts on the technology and crypto itself. Before the US 2024 elections when he stood as one of the nominated President–
United States To Be The Next Crypto Capital Of The Planet—By Donald Trump…(1)
He often expressed interest in cryptocurrency and Bitcoin and would address the same in his speech. After the elections, when he became the elected president of the USA, he gave the statement–
Donald Trump Confirms Bitcoin Reserve Planning To Surpass 15 Trillion….(2)
The same month when he declared that he wanted the USA to have a reserve of Bitcoin like oil reserve, Bitcoin surpassed the value of 95000 in dollars.
Bitcoin Crosses 95000 Marking A New Record High After Trumps Win….(3)
In the USA, there has been a debate among researchers and philosophers about whether Bitcoin should be used as a commodity for regular transactions. Furthermore, many people in different countries including India demanded “de-dollarisation” meaning that the dollar should be reduced from being into regular transactional processes. Whatever, Donald Trump pitched for Bitcoin reserve, Cryptocurrency, and blockchain; it became a serious concern for all the countries or the whole world.
What Did The Prime Minister Of India Say About The Same?
In the same context, the Prime Minister of India, Narender Modi declared in his speech for G-20 Summit 2023, that cryptocurrency is one of the new topics to be introduced in the social orders, financial, and monetary context of India. India rather needs global standards to regulate the same.
People from across the countries have shown their interest in blockchain technology but it is again a debatable topic for everyone as the price value of cryptocurrency can have a sudden hike and a sudden fall and there lies uncertainty.
Understanding The Basic Definition Of Blockchain
Blockchain technology is a decentralized digital ledger that helps in rapid transactional processes and maintaining records across different networks. There are different blocks in the term “blockchain” and in one single block; there are multiple transactions and records are maintained of each participant ledger.
Blockchain aids in completing transactions and transparency along with tight security. The term blockchain is not just limited to “blockchain and cryptocurrency” instead it is there in every application like in financial transactions in banks, to maintain records in schools, scholarship systems, in vehicles for automation and is also equipped with AI (artificial intelligence).
What Is Cryptocurrency And How It Works?
Cryptocurrency is a kind of decentralized digital currency secured by cryptography, that is also managed or maintained in the form of tokens, coins computers or digital assets. Examples may include Bitcoin, Ethereum, Ripple, and Litecoin. When Bitcoin was there (discovered and invented) in 2009, its use was made with the help of computer software. It was then regularised in casinos for faster transactions, tight security, transparency, and lower costs. The debatable topic for every country is that— Will cryptocurrency be there instead of fiat currency or regular currency?
The most important fact to learn about cryptocurrency is that it is not regulated by a central authority. Instead, it is a decentralized public ledger. It is maintained on the public ledger called Blockchain Technology. It requires a global network of computers for the transactions, their validations, and record maintenance.
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