Author: Angel Mejia

Angel Mejia

Steven. “Introduction to Cryptocurrency.” CryptoCurrency Facts, 13 Jan. 2022, https://cryptocurrencyfacts.com/.

A website called “CryptoCurrency Facts” offers informational materials and instructions on cryptocurrency and blockchain technology. The website discusses a variety of cryptocurrency-related subjects, including mining, trading, wallets, and taxation. Cryptocurrencies, according to the author, have the potential to disrupt the banking sector by delivering quicker, less expensive, and more secure payment methods. In the area of cryptocurrencies and blockchain technology, Steven Buchko has years of writing and research expertise. He has written a lot of pieces on it, and publications like Forbes and The Wall Street Journal have referenced him. I will use this to close out my essay and present the benefits again one last time to show how strongly I believe in my argument.

  1. “Cryptocurrencies have the potential to disrupt traditional financial systems by providing faster, cheaper, and more secure payment systems.”
  2. “Blockchain technology enables us to create trust and transparency in a decentralized system.”
  3. “Cryptocurrencies are not just an investment opportunity, but a new way of thinking about value and ownership.”

Ross, Elanor. “Why cryptocurrencies could be the future of the global economy.” The Guardian, (2021, January 25)

Angel Mejia

            In this digital newspaper, Eleanor Ross makes the case that by offering safe, decentralized, and effective payment methods, cryptocurrencies could drastically alter the state of the world economy. She draws attention to the benefits of cryptocurrencies over conventional payment methods, including reduced transaction costs, quicker settlement times, and higher transparency. Ross also points out that other central banks are considering issuing their own digital currencies, which might hasten the adoption of cryptocurrencies. Reputable news source The Guardian has received multiple honors for its reporting, including the Pulitzer Prize. The International Monetary Fund and the Bank of England are two reliable sources that are cited in the well-researched text. I will use this piece to explain the advantages and the overcoming challenges of crypto.

  1. “Cryptocurrencies are faster, cheaper, and more secure than traditional payment systems.”
  2. “Central banks are exploring the possibility of launching their own digital currencies, which could transform the global financial system.”
  3. “The rise of cryptocurrencies could lead to a more decentralized and democratic economy, with greater financial inclusion for all.”

Tasca, Paolo, et al. “Cryptocurrencies: A Viable Alternative to Fiat Money?.” Journal of Economic Perspectives, 2018.

Angel Mejia

            The essay looks at whether cryptocurrencies might replace fiat money in the future. The authors contend that compared to conventional banking systems, cryptocurrencies have the potential to offer transactions that are less expensive, quicker, and more secure. They also talk about how cryptocurrencies could help with financial inclusion and systemic risk reduction. The authors admit that cryptocurrencies confront tough problems such network security, scalability, and regulatory difficulties. High-quality economics research is published in the peer-reviewed academic publication Journal of Economic Perspectives. The article’s writers are renowned experts in the fields of blockchain and cryptocurrencies, and their ideas are solidly backed up by facts and figures.

  1. “Crypto-assets can be seen as a new type of financial technology, which allows the creation and transfer of digital assets based on cryptographic protocols without the need for intermediaries.”
  2. “The flexibility and adaptability of the technology behind crypto-assets is a significant advantage that makes them potentially suitable for a wide range of applications, from micropayments to supply chain management.”
  3. “The vision of a decentralized, peer-to-peer payment system that bypasses traditional intermediaries and governments has captivated many who see in it a solution to the perceived ills of the financial system.”

our future currency?

Angel Mejia

Michael, & Paul. The truth machine. The blockchain and the future of everything. St. Martin’s Press, 2018

A thorough examination of blockchain technology and its potential to revolutionize sectors outside of banking may be found in “The Truth Machine” by Michael J. Casey and Paul Vigna. The authors contend that the blockchain may offer trust and security across a variety of industries, including healthcare, supply chain management, and government services, as a decentralized and transparent ledger. The book covers a wide range of blockchain-related subjects, including its background, practical applications, and societal ramifications. Famous journalists and authors who have written extensively about cryptocurrencies and blockchain technology include Michael J. Casey and Paul Vigna. In addition, they have reported for well-known media publications including the Wall Street Journal and have spoken with other business gurus. This can also help expand the ideas of blockchains.

  1. “Blockchain technology has the potential to decentralize power and create a more equitable society.”
  2. “Blockchain technology is not just a new way of doing business, but a new way of organizing society.”

our future currency?

Angel Mejia

Drescher, Daniel. Blockchain basics. A non-technical introduction in 25 steps, 2015.

            Daniel Drescher’s book “Blockchain Fundamentals” offers a thorough introduction to blockchain technology and its possible effects on our economy. The author makes the case that the blockchain technology that powers cryptocurrencies like Bitcoin has the power to revolutionize a variety of sectors and usher in new business models. Cryptography, distributed ledgers, smart contracts, and consensus methods are just a few of the many subjects covered in the book that are connected to blockchain technology. An acknowledged authority in blockchain technology, Daniel Drescher has published several books and scholarly articles on the subject. Moreover, he has given several lectures and workshops on blockchain technology to corporations and governments. This book can help explain the basics of blockchains and its potential impacts on the economy.

  1. “Blockchain technology is a new way of organizing data that eliminates the need for a trusted intermediary to verify transactions.”
  2. “Blockchain technology has the potential to create new business models that were not previously possible.”

our future currency?

Angel Mejia

Ammous, Saifedean. The Bitcoin Standard. The Decentralized Alternative to Central Banking, 2018.

            In this book, Saifedean Ammous makes the case that Bitcoin represents a fundamental shift in how money is produced and utilized, not merely a new type of digital cash. He shows why Bitcoin is a better form of money than conventional fiat currencies because to its decentralized architecture, fixed quantity, and incorruptible ledger technology. He contends that Bitcoin can fundamentally alter how we keep and transfer value because, in contrast to fiat currencies, it cannot be manipulated by governments or central banks to further political goals. Saifedean Ammous holds a Ph.D. in Sustainable Development from Columbia University and works as an economist and professor of economics at the Lebanese American University. He has written academic articles on matters pertaining to monetary economics, and several professionals in the area have given his book favorable reviews. I can use this source to support my thesis and provide strong reasons on future crypto and its benefits in my second body paragraph.

  1. “Bitcoin is the hardest money ever created: a peer-to-peer electronic cash system, capable of replacing central banks as monetary regulators, and serving as a nonpolitical alternative to fiat currency.”
  2. “Bitcoin offers a unique solution to a problem that has plagued humans for centuries: how to ensure that money maintains its value over time.”

Angel Mejia

Angel Mejia

Paul, & Michael. The Age of Cryptocurrency. How Bitcoin and Digital Money Are Challenging the Global Economic Order. St. Martin’s Press. 2015.

            Paul Vigna and Michael J. Casey examine the origins and prospects of cryptocurrencies like Bitcoin in “The Age of Cryptocurrency,” contending that they mark a fundamental change in the way we see money and the economy. The writers go over the economic theories that surround cryptocurrencies, their underlying technology, and the advantages and disadvantages of a decentralized currency system. They look at the difficulties that cryptocurrencies have in their quest for widespread acceptance and credibility in the global economy and The writers who consulted a variety of sources and viewpoints, offer a thorough and fair study of the probable effects of cryptocurrencies on the world economy. “The Age of Cryptocurrency” can be utilized to provide a better understanding of how decentralized currencies can affect the world economy.

  1. “The true value of cryptocurrencies is not just in the money, but in the way they allow people to exchange value and trust each other in a way that is transparent and secure” (p. 217).
  2. “At its core, bitcoin is a way to transfer value without requiring a central authority or intermediary. It is a new kind of decentralized digital currency that is maintained by a network of computers around the world” (p. 3).