Cryptocurrency has come a long way since Bitcoin was first announced. It became quite accessible, but now it seems to have reached a period of inaccessibility. Investors have made a lot of money on this digital, encrypted blockchain technology, but as time goes on and more coins are made for the average person, cryptocurrency will become a mainstay. Governments are still figuring out what to do with cryptocurrency, but this isn’t always a bad thing. Below are the ins, the outs, and the future of cryptocurrency.


Blockchain is technology that uses an immutable ledger, meaning that all the transactions are saved. This is to prove ownership and offer a paper trail on a completely digital asset. Blockchain is used primarily in cryptocurrency and non-fungible tokens (NFTs), but the technology is very new.

It remains to be seen whether the advancements in blockchain will help cryptocurrency become more accessible to the average person, but this shows promise. For example, Ethereum has become known for its highly encrypted blockchain, increasing confidence in the buyers and sellers. So much so that a scam occurred using a similar name. This is one of the cons of decentralization, but there are also many pros.


One of the biggest advantages of cryptocurrency is that it is decentralized. No government or financial body regulates them. They are up to the will of the market. Depending on how many coins are possible with a cryptocurrency, this changes their value. Decentralization, of course, scares governments and financial institutions–for good reason. When you have cryptocurrency, you can use it to your advantage in so many ways. Not only can you make purchases internationally, but you can also buy, sell, trade, and do business in the digital realm.

The Metaverse

Of course, the main currency in the digital world, which is commonly known as the Metaverse, is cryptocurrency. In a digital universe you need digital money. Now it’s mainly connecting your credit or debit card to the company that you are utilizing for this kind of extended reality (XR) experience. As time goes on, cryptocurrencies will be used more and more frequently. Whether you are paying for a digital concert, making a purchase for your avatar, starting a business in the Metaverse, or even securing digital “property” there are so many uses for cryptocurrency. One thing that remains to be seen is if a few companies try to consolidate and centralize cryptocurrencies, which would establish yet another financial institution in that way.

Ethics & The Environment

Bitcoin made huge waves in the environmental community when people started mining it seriously. This has a very adverse effect on the environment. These days, cryptocurrency ESG is involved. ESG is the environmental, social, and governance—a term used in business. This considers the impact of a financial asset or investment. Some people argue that all of it is connected. While these technologies require a lot of power, they are also solving our energy issues. How will this pan out in the future?

The Future

The future is incredibly difficult to predict, but when it comes to technology and cryptocurrency in general, you can put together a story. With cryptocurrency, the floodgates have been opened. There are essentially two paths to go down, technological decentralization and technocracy. Some people believe the former will occur and others are believers in the latter. It could also end up both ways. Decentralization of currencies could also lead to a kind of dictation of technology. However, we really don’t know what will happen.

That’s why we need to pay attention. It doesn’t matter whether you are intrigued by the promise of the technological future or are completely afraid of it. When we keep our eyes and ears on progress, we can determine what is right for human society at large. Cryptocurrency is just one of the ways that progress is upon us. Whether it’s crypto, the Metaverse, artificial intelligence, or something else, it can be argued that all of these are one in the same. Technology is converging and humans are likely to come with it. The more we analyze what is happening, the better our decisions will be. 

Ryan Beitler is a journalist and writer who routinely covers 
technology and finance.

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