Crypto-Currency as the New Global Economy

Economic activities take place in multiple countries that are interconnected worldwide. This is what is referred to as global economy. Global economy allows goods and services to be produced at lower cost than its trade partners, supporters of global economy suggest that free movement of capital enhances investment in poor nations and also stimulate creation of job opportunities in process called globalization.

With the emergence of crypto-currency, there is new hope for the global economy as illustrated below. Crypto-currency has come to light as a financial tool which is easily accessible and useful in several sectors of the economy. Crypto-currency allow for social and economic growth in various countries including developing countries throughout the world by offering access to capital and financial services.

Beneficial rise in economic activities

According to Finextra, there are several institutions that are dedicated to managing all the digital coin exchanges that occur throughout the world. These institutions hold an entire industry that already exists around crypto-currency. The rate of growth of the crypto-currency industry is rapid and this can be ascertained by the adopters who found the opportunities to grow financially and accumulated wealth within a short period of time. Among all the crypto-currencies available in the world market, Bitcoin is the most common and given several people and various companies a chance to grow and flourish. Many other people also depend on trading as their only source of income, therefore crypto currencies have a great potential in fulfilling the shift of the world economy to adapt to these needs.

Great opportunities for poorly banked countries

A large...