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Blog: Next New

I believe the next new media will be a US government regulated digital currency. This does not currently exist. It will be something similar to Bitcoin. Bitcoin surpassing $10,000 shows that digital currency is in demand. Japan as a nation is already very accepting of digital currency. Japan is home to bitFlyer which is the world's largest market exchange for Bitcoin. Digital currency lowers transaction costs and makes payments at any time very appealing. Paper based currency as well as physical coins are being used less and less every year. According to creditcard.com, "In a 2016 survey, payment processor TSYS asked over 1,000 consumers which payment form they prefer. Forty percent chose credit cards, while 35 percent selected debit cards, and only 11 percent specified a preference for using cash."

Comments

  1. Jordan Chanin-AlbaneseDecember 4, 2017 at 11:56 AM

    I agree with you that there should be some kind of regulated digital currency. Bitcoin is taking over and I think having a system like Japan would be very beneficial for the economy.

    ReplyDelete
  2. UnknownDecember 11, 2017 at 10:03 AM

    I agree with the term that digital currency will become important in the future. in that case high value protection should be set up to protect user's property once people get used to digital currency

    ReplyDelete
  3. UnknownDecember 11, 2017 at 9:53 PM

    As I understand it, BitCoins is a virtual currency bypasses financial institutions. If that's the case, widespread use of it can destabilize markets and devalue our currencies. Right now, I believe it's being used for some underground activities. In order for it to be accepted as a national currency, it has to be regulated through the Central Bank, which kind of defeats the purpose of BitCoins in the first place. So I don't see how BitCoins can make its way to the ordinary consumers.

    ReplyDelete
    Replies
    1. Shagor NoorDecember 12, 2017 at 8:01 PM

      I agree with your statements on Bitcoin. I personally do not see Bitcoin surviving long term because of how volatile it is. However it has done a well job discovering a new market. This is something the US Government can learn from. For example, instead of having $1 in cash we can have $1 in digital coin. This would save the government a lot of money from printing and mining coins.

      - Thanks for the input!

      Delete
  4. UnknownDecember 12, 2017 at 1:08 PM

    I think this is a great idea for me, I am a person don't like use cash. I agree with you idea there should some think like you mention regulated digital currency coming out to the world. Japan did a good job for the market exchange for Bitcoin.

    ReplyDelete

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