“We have digital radio, digital television, digital control of car manufacture and household appliances (robots), digital clocks for time-keeping and now we have Digital Money For All.”

 

So, what is digital money and what does it look like?

Unlike PayPal, Mastercard, Visa credit and debit plastic cards that merely represent our Dollars, Euros, Pounds and Yen, Digital Money is a different type of currency that we are about to embrace into our everyday lives; it is in the form of digital bits, like ‘1’s and ‘0’s in a sophisticated computer program and the code represents ‘value’ rather than pure information, stored in our wallet or personal bank account. This Bank account will be on our mobile phone or personal computer, not in the high street branch of a major bank!

A heavily encrypted code represents how much money we have in our account and it will be better than the existing currencies because it will be stable from devaluation or inflation. The deep layers of encryption prevent anyone else (including the authorities) trying to steal or interfere with our money – a much better arrangement compared with the currencies and banks we have at the moment.

We will be able to send or transmit any value of our new money from our own personal wallet to anyone else who has a digital wallet, anywhere in the world, for a few cents or pence! Yes, the trillions of transactions per day, all over the world of business and private finance, will be very cheap to operate… that’s one very good reason why we are going to adopt this digital currency within the next two-to five years.

There will be nothing to stop the existing two Billion bank-less people taking up digital money from now onward, they will not have to pay the crippling 7-29% service charges currently levied by banks and agencies  for sending money home to relatives in a different country.

Digital money will be very cost effective for everyone with a mobile phone… and that’s a lot of people! The more people who use it, the cheaper the transactions will be and the more value the currency will take on.

Bitcoin was the first crypto money-asset in 2009 and it is becoming more popular as we go to press. Many people are already investing heavily in Bitcoin and other ‘coins’ created in similar form or style. There are literally hundreds of different Digital ‘coins’ springing up, all hoping to get a share of the enormous market for a new, preferred global currency.

Banks and governments are gearing up to accommodate the market demands, trying to become a leader in the field of crypto-currency, hoping to become the standard for everyone else to follow.

‘Digital Money For All’ means that we will shed the currency we are using and change over to use ‘Block-chain’ technology instead. Block-chain is the software infrastructure, rather like the Internet of linked computers around the globe, but communicating the actual value transaction bits instead of information bits that we already know about.

With the new Blockchain, modern technology has come of age. We are all able to benefit substantially from using a digital currency, without extra cost, without additional complexity at the customer level. In fact, costs are considerably reduced and once you use a mobile phone to pay for your first transaction, you will never look back to the far more complex arrangement of exchanging currencies we use at the moment, making daily adjustments to buy and sell our goods… so, look out for Blockchain, it will have an impact on cross-border business activities during the closing stages of Brexit!

I am an investor in a fairly new crypto-currency called ‘One-coin’ I anticipate making a lot of money when the company goes public in the Spring of 2018. It will surely overtake Bitcoin because it has three million members already, has a vastly improved Blockchain and has a brilliant founder and CEO called Dr. Ruja Ignatova

>>> Better than Bitcoin in many ways, Learn more about ‘One-coin’ <<<