Money How It Should Be

Money How It Should Be

Like it or not, society runs on money—it is integral to its functions—and that makes it even more ridiculous how insecure it can be. We already have such things as income tax to pull personal resources away from us, but when illegal, unscrupulous actions take our hard-earned currency, that’s unforgivable.

Fraud, identity theft: these actions ruin lives. So, is it any wonder a system more secure would appeal to a person? Is it any wonder a system that makes it harder to scam merchants would appeal to merchants?

You know what I’m referring to here: Bitcoin, cryptocurrency. A new way of dealing with that number-grease that keeps the world going. Because of Bitcoin’s structure at a fundamental level, you can’t renege on expenditures; there’s no pulling away money at the last second. Since every transfer’s verified and logged on the blockchain, purchases are final—and, despite having a running record of every exchange, the system still allows a level of user anonymity that makes your personal data less open to malicious intent.

It’s just common sense to be interested in a setup like this when it is available. Money, as a societal construct, exists because of trust. And unless modern banks somehow, someway, adopt a similarly secure, transparent, and unobtrusive method of eliciting exchange, cryptocurrency, in this category, simply emerges victorious.

Written by Brandon Scott

By |2017-12-10T19:24:14-05:00December 10th, 2017|DFN COLUMNIST, Uncategorized|Comments Off on Money How It Should Be

About the Author: