Cryptocurrencies: The future of money?
- Written by
- Deepika Sulekh
Cryptocurrency, the new buzz word around, has either become a global phenomenon for most people (the geeks who understand what it means), but has confused a large number of the rest of us.
What is cryptocurrency? To put it simply, it’s a digital currency. It works solely online, peer-to-peer, and is anonymous. Free from any middlemen (banks or governmental oversight), it’s monitored and verified by Blockchain technology, a software platform for digital assets. Blockchain is a technology that is said to fundamentally change systems and infrastructure globally, disrupting industries just as the internet did years ago. Bitcoin, one of the most popular cryptocurrencies today, is just a currency
reliant on Blockchain technology, so imagine what else Blockchain technology could be used for.
Why would you use cryptocurrency?
Not everyone will see its immediate benefits, but the main advantages are the anonymity which prevents fraud and identity theft, immediate settlement thanks to no third party involved, and international transactions are made easy because of the decentralised system. It will only work for you however, if you use it properly and fully understand the
risks – the biggest disadvantage being its volatility, generating a way for people to use the system as investment instead. There are benefits for Taupō, too. With some of our local businesses already adopting Bitcoin for payments, this has given our visitors especially a more convenient way to pay.
Established by Sarn Elliott, Taupō’s cryptocurrency whizz, Learn BTC will offer Taupō’s first courses and practical workshops on cryptocurrencies and Bitcoin. From learning the basics to practical workshops on setting up your own wallet, anyone who wants to get involved with Bitcoin, either to use as a currency or for investment, will have an easy way to learn everything they need to know, even without previous knowledge.
What can you learn?
Bitcoin & Blockchain: What is Bitcoin and how does it all work?
Workshop: Setup your own Bitcoin wallet in class, learn to buy, sell, send, receive and store Bitcoin.
Investing: Learn of ways that people use Bitcoin for investing. There is more than just Bitcoin when it comes to cryptocurrencies.
Security: Learn how to keep your Bitcoin and other cryptocurrencies safe and secure.
Keep an eye out for the Taupō courses. Email firstname.lastname@example.org for details.