Ah but it is Digital now. Digital a word whose roots lie in the latin digitalis, from digitus today it is usage is synonymous with televisions and computers, cameras, music players, watches, etc. Books was a revolution; and today we have technological and e-books devices to read them with. How the original words are encoded into a numerical form and decoded back to words does not mean we trust less the words we’re reading, but we might still prefer the joys of a physical book than a bit of high-tech plastic that needs to have its battery charged to keep working. Can currencies like bitcoin really offer a contribution in as spectacular a manner to positive change?
To answer this How are we using it, to know it and integrate it into a model of a ‘world for all?’ Money, unlike any other kind of land, is unique as it might be used before an event for anything. Nothing is implied by it, yet can be used for great evil or great good, and it is just what it is despite effects and its manifestations. It is a misunderstood and commodity. Money has a sophistication as shown by the financial markets, and the ease of facilitating buying and selling; and yet it has no idea of decision. It serves as an autonomous entity, yet it is exogenous and endogenous to the community. It is replaceable and has no personality, yet it is treated as a resource its expansion governed by a set of rules which determine the manner in, in the context. Yet despite this the results are not predictable and, moreover; an aversion to moral turpitude and a commitment to social justice is not a necessity of its use.
For a currency to effectively Perform its functions required, the intrinsic-value of cash needs to be a belief. In November 2013 the US Senate Committee on Governmental Affairs & Homeland Security acknowledged that currencies are a way of payment, an example of this is bitcoin value. As a result of very low transaction fees charged by the ‘Bitcoin network’ it features a real way to permit the transfer of funds from workers sending money back without needing to pay large transfer fees charged by companies. A European Commission calculated that if the worldwide average remittance of 10 percent were reduced to 5 percent (the’5×5′ initiative endorsed by the G20 in 2011), this could lead to an additional US$ 17 billion flowing into developing countries; using the blockchain would lower these fees near to zero. These money transfer companies who extract riches might become dis-intermediated via the use of an infrastructure.