Internet started into the homes of the average people since 15 August 1995 and since then it had a lot of fads and the trends but the internet never made an impact that made the complete change towards everyday things. In 2009 however the birth of bitcoin made people take the internet money seriously.
Suddenly the people started taking the currency seriously and then one after another blockchain started happening. Every new currency promised people riches and the independence from the govt. In reality they were still locked in with the govt and the currency of the native land.
Let's talk a look out for how the new world order that is about to come for the digital payments.
There are some people who wanted to be free from the taxes and the govt. And they proposed a paper in which the cryptocurrency would run a miner program and solve puzzles and create the currency as the puzzle is solved. Later this mindset was moved to the other chain and all of them started mining the computing power and generated the coins for their own use.
Later this mindset turned into the stake based mining. Where the transactions would confirmed by nodes and that act was passed as a confirmation of money movement. And this way even the crypto turned out like a real world currency. Which is something people wanted to make use of for the usage in the digital transactions. It goes to show how the new world order was slowly started to take shape. You can check the timeline here.
Wars caused a lot of drama in the middle east and the places around the world. And that has made the world rely on each others currency. Which also lead to some of the issues related to the fake currencies. Almost every country in asia suffered from this. As the funds were stolen by the middle eastern criminals and the money was swapped for the USD in the open market. The demonetization was done by many nations in the process which kind of made the usage of blockchain ledger and crypto required.
Another thing that changed was the pandemic came out in the 2019 which made people think over for the way to do movement of funds from home. They were tired of making use of the ATM and also the cash which could get infected. So they started accepting the digital cash in the form of crypto and also changed their ways to suite the pandemic times of the digital payments.
Govt and the internet trends made the people change as per the demand and supply cycles and they ended up changing.
Everybody wanted freedom from govt and the taxes. But in reality that is not going to happen. We can live in the dreams and the random wishes of the decentralization. But in reality we have the new world order of the digital assets which are regulated and monitored by the govt around the world and they have made new world where all of this is centralized and watched over.
We wanted a better world where there would be no control of people who are in power already. But turns out even every single attempt of the decentralization would turn out to be a centralized nature. We just have to go with the flow and there is not much strong we can do about it. Let's see where things go from here onwards as well.
Digital payments and the digital assets are new norm. And we are going to see where those would end up for the consumers in upcoming times as the cash is being denied by the new generation.
