In recent years, digital money has caused a financial frenzy – there are now more than 1,000 cryptocurrencies with a combined market capitalization of over $400 billion USD. In the grand scheme of things, this represents a relatively small portion of the global economy, but the significant buzz in the media and among investors has much of the general population curious about the potential of virtual funds. Pura Cryptocurrency, an international digital currency, discusses the future of crypto and the benefits it will have on everyday life.
At their core, virtual currencies provide an electronic payment system that enables paperless transaction from one person to another. The experts from Pura Cryptocurrency explained that the exchanges are secured with cryptography, completely anonymous and that they bypass all middlemen such as banks or credit card companies. The lack of a central monetary authority has been one of the industry’s largest selling points, as users don’t have to entrust a third party to handle their funds. The technology that powers these currencies, the blockchain, is poised to drive innovation for decades to come. Essentially a digital ledger that logs transactions in real time without the need for a single, centralized authority, it is used to confirm transactions and prevent conflicts, tampering or duplication. Everyone who participates in the network has a copy of the blockchain, which contains a record of every transaction ever made, on his or her local computer. By offering a secure and efficient method of exchanging and validating information, digital currencies backed by blockchain technology could have a tremendous impact on the global economy, with significant disruption for the financial services, health care, real estate and consumer sectors.
Many of the world’s technology leaders are already struggling to keep up with the accelerated pace of cryptocurrency innovation. This could lead to a near term rise in mergers and acquisition as tech giants acquire start ups in an attempt to leverage these emerging technology platforms. Pura also anticipates more unexpected applications, like the Massachusetts Institute of Technology’s Digital Currency Initiative, which explores cryptocurrencies for business, civic and social benefits. As the barriers to business continue to reduce, expect gains in trade and economic growth to influence currency investment opportunities worldwide.
Pura Cryptocurrency is an international digital currency that puts the power back into the hands of the user by liberating them to transact with anyone in the world directly, anonymously and instantly by removing the need for a middle man bank or payment provider. Transactions are written into the blockchain and backed up on hundreds of secure servers worldwide, ensuring accuracy and privacy. As the world’s first socially and environmentally conscious cryptocurrency, the company has launched PuraPlanet, which contributes ten percent of all mining rewards to the common good. It’s counterpart, PuraMission, funds fully transparent, blockchain tracked, and sustainable environmental and social projects around the globe.