Q. Which is better - cryptocurrency or centralized electronic money & central banking systems?
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Which is better - cryptocurrency or centralized electronic money & central banking systems?


crypto blockchain
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9

Jun, 2018

Cryptocurrency
2 Answers
  • abdul91

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  • benjamin.jake

    i)Obviously, Cryptocurrency is better as it is decentralized and works as a chain distributed.
    Whereas central banking system is centralized among a specific number of people.
    (ii)Cryptocurrency requires new units to be produced by governments whereas centralized banking can work with the previously used units.


       

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Asked in Category

Cryptocurrency

Cryptocurrency is a secure, trustful and transparent digital currency which can neither be counterfeited nor be reversed arbitrarily by the sender. It eliminates the necessity of a third party involvement for the exchange, as it is encrypted and peer-to-peer virtual currency. For those who prefer non-disclosure and privacy, cryptocurrency is the solution. The use of this kind of virtual currency prevents any kind of identity theft. The concept of cryptocurrency has given birth to reliable e-cash.

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