Posted by: selenasierra | November 19, 2017

Rise of Cryptocurrency

Kasey Panetta discusses three emerging technology mega trends: AI everywhere, transparently immersive experiences and digital platforms. Panetta offers examples of each and reviews the influences on the future of business. Panetta states, because of the great impact of these trends, it is vital for business tech innovation leaders to explore these ideas.

Bitcoin and Ethereum were not new revelations for me when I came across it in this reading. Talk of cryptocurrency (especially Bitcoin and Litecoin) arises at least 2-3 times a week in my household. Cryptocurrency was first explained to me by my boyfriend in September; he has steadily been monitoring the trends and made purchases of Bitcoin and Litecoin since then. Cryptocurrency is a decentralized digital payment system.

Bitcoin was first introduced in 2009. Back in September of this year, the price of one Bitcoin was approximately $3,500. As I’m writing this post, it is over $8,000. In a matter of two months it has more than doubled, reaching new highs every month. Bitcoin was first introduced in 2009. With the rise of Bitcoin, newer cryptocurrencies have also emerged – Ethereum in 2015 and Litecoin in 2011.

Image result for bitcoin price chart

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The stability of cryptocurrency is of concern because the price is constantly fluctuating.  It is very difficult for investors and businesses to accept cryptocurrency transactions due to the high volatility. It can have swings of 10% in a matter of minutes. I think Bitcoin and other cryptocurrencies will be part of our future and become more widely accepted once they are stabilized.

 

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