The concept of cryptocurrency is a new concept in our lives. In today's technology, we are not used to such innovations on money. So we still need more time to get used to the concept of cryptocurrency. First of all, have we fully understood this concept? I am not sure. Because we're still not sure how to classify. So is cryptocurrency a money ?, asset? store of value?, commodity? We're very confused about that. Well, Can we actually describe it as a different entity, not just one of them, but all of them?
I've asked myself this question many times. Really how to classify this new technology. But I think it would be a mistake to match a single concept. Because, as I mentioned above, the concept of cryptocurrency has features that can be turned into all of them. How is possible?
Firstly cryptocurrency is a money. Even though it is not using among public yet, it has the ability to purchase anything.
Secondly it has feature as a store of value . Basically we can see this feature clearly based on Bitcoin. Many people even define it as a digital gold. This means the store of value property for cryptocurrency.
We can think of these entities as commodity. Platforms such as Ethereum allow to create token economy on it. If you want to build a business model on such platforms then you have to buy or produce the coin of that platform. You can think of it just like industrial companies need oil to do business. So i mean in this case you need to use these coins to do business. Thus you can perform your Blockchain business on these platforms such as Ethereum using its coins
We can also consider it as asset. Currently, many assets in the digital environment began to be converted to such a cryptocurrency or token.
As a result, cryptocurrency technology is highly flexible and we can make use of it very effectively. Actually we can call them as tokenized assets that it has all of the above mentioned features. So all the financial assets you can think of can be tokenized. Therefore, Token management will soon be included in our lives as a new form of management.
