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Own CryptoCurrency: Why many companies are launching their own cryptocurrencies

bitcoin ransom

Cryptocurrency, as you know it today, is the electronic form of money which is created electronically using the specialized computer systems and complex mathematical puzzles the process is called mining but I am not going deeper into how it is created right now, you can read about how cryptocurrency mining works.

Coming to the point why there are many companies, even banks like Bank of England and Countries like Russia, England, Dubai & India, Malaysia, Israel are launching their own cryptocurrencies?

Most recently, Telegram app has announced to launch its own cryptocurrency, after that Kodak company has announced to launch its own cryptocurrency, followed by the LINE chat app which has announced to launch its own cryptocurrency today.

There are some other companies and countries that are also mulling to launch their own currencies that are digital. So it seems we are heading towards digital currency for sure. The recent surges in Bitcoin is enough to convince people to invest in cryptocurrencies. Bitcoin last surge was reported in December which crossed $15000 and it was valued at $19000 in Korea.

There is not only a bitcoin in the cryptocurrency world which is surging, there are many other cryptocurrencies which are growing fast, faster than ever. You may read about top 5 cryptocurrencies, to get you an idea. The digital currency Ripple also surged in the last week making it the second-best cryptocurrency in the market.

According to a report published on Forbes, 30% of millennials would invest in cryptocurrencies, but why? Is there anybody to answer it?

The answer is simple; to make easy money

But what this easy money could do to them is the real question they should think about.

If you know the history, the same method was applied to replace the gold coins with paper money, it started from the bank of England. Later the gold coins completely disappeared from the money market.

Now, its paper money’s turn to disappear from the market. Companies are investing in cryptocurrencies, they are launching their own cryptocurrencies, there is a lot of money in cryptocurrencies, its safe and secure and now countries are launching their own cryptocurrencies are the hypes you will see all over the media, blogs and news reports.

The 21st-century capitalist thought is to get control of the money, the digital money could be created, destroyed and manipulated easily which gives enough control to the people in power over the economy.