RE: The Biggest Problem with Cryptocurrency is that it is Called Cryptocurrency
What a powerful article and it deserves in my eyes much more exposure! Awesome work, again!!!
As soon as you veered over to the trust issue, the reader turns 90 degrees and keeps on reading. by the time you hit the "The “currency” embodied the metadata of the producer’s skill, locational knowledge, and much more", we're hooked till we reach "Cryptocurrencies have now become a vehicle for self-investment and self-establishment in unique global economies."
Underlining the aspects of our liberties and freedoms being incentivized by the rise of crypto currencies gives great power in the legitimacy of these new economic tools. Some call them cryptocurrencies, but really, when it comes to their usage, the greatly vary in function and applicability (Which you pointed at too) and can't all fall under one umbrella. Bitshares, for instance, falls under the category of "Securities". Others fall under many other labels "Coupons", "Smart Coins", "Shares of Bonds", "Share of Stock", etc. depending on what they represent within the blockchain systems, they will slowly get the recognition they deserve.
Thanks a lot for this sharing of knowledge, wisdom and history this is hghly valuable a post. Upvoted 100%, resteemed and shared!
Namaste :)
It also been reported that an Australian company that allows its customers to make payments via credit card, direct bank, or BPAY using eleven different cryptocurrencies, has revealed that the company is now processing approximately $1 million AUD (roughly $ 756,000 USD) worth of bill payments each week.
Is that amazing?
Thank you so much for the informative response @eric-boucher! It is a tremendous idea to start diversifying the specific functions of these currencies and we're also looking forward to other terminology that comes up during this development.
Namaste!
Now that my fairly limited understanding of cryptos deepened a bit, I do see that there are multiple aspect of the blockchain technology other than creating value for "digital money".
Its a great start and I sincerely hope for them to be using Bitshares as a platform to do so. this way, they can stay infinitely scalable, the fastest provider and most adaptable they can possibly be.
Thanks for sharing this good news! Namaste :)