Everything You Need to Know About Cryptocurrencies
If something is fundamentally not true, as long as we both believe it to be true, then it becomes true.
As a disclaimer, at the time of posting this article, I am an investor in cryptocurrencies and stock market. Please remember that this is not financial advice, and if you need professional advice, you should contact a financial authority.
Since the early days of civilisation, people have searched for better ways to trade. Improving their way of trading resulted in the appearance of new jobs on the market, led to the creation of a better reward system for the work done, and a better life overall.
In the last 100 years, the evolution of technology has accelerated, which can be seen in any field of activity. Things have visibly improved whether we talk about medicine, television or finance.
The same thing can be said about the banking system. Today, there are better and more accurate ways to quantify loans, calculate future investments, and make payments, than 100 years ago.
The first time when the term “online banking” started to be used was in 1981, when Citibank, Chase Manhattan, Chemical Bank and Manufacturers Hanover offered for the first time to their customers the possibility to manage their banking accounts from home.
In the UK, the first internet banking service called Homelink was offered by The Bank of Scotland in 1983. Which nowadays is just a classic method, back then, connecting to the Internet through your phone to pay your bills or transfer money was seen as something revolutionary for that time.
After that, the digital boom from the early 2000s made everybody more aware that things could be done better and faster if everything went digital.
This is how we went from only 279 million people (4.63% of the world) who had access to the Internet to more than 4.8 billion (61% of the world) who use the Internet daily, in about 20 years.