Jobaaj Stories
The world is changing its stance on cryptocurrency regularly and today we are here to unravel some of the important aspects of the currency we all have been fascinated with for a very long time now.
During our recent interaction with CA Saksham Agarwal and Shubham from MBA Cambridge University, UK, we discovered some of the key questions we all have been looking for answers to.
According to Shubham, the tech behind what makes cryptocurrency is very fascinating and might come as a solution to leading business challenges we face today. But, the future of this as a currency seems bleak.
He mentions that the birth of cryptocurrency was from the mass lash post-2008 economic crisis which alarmed the adequacy of a central banking system built on corrupt and biased decision making. In simple words, he defines cryptocurrency as a way to transact across the globe where the central banking system would be replaced by sophisticated tech aimed to approve and facilitate transactions. Though the removal of central governance sounds fascinating, it's far from reality.
We are living in a world where anything such as a pandemic was just thought of in movies. Critical situations like this multiplied the need for central banking where people can look onto for help to sail through the tough times. Additionally, as we grow as the global economy, the only practical scenario where cryptocurrency could rule the world is in a hypothetical dimension where every country across the globe accepts it as a method of exchange.
At this stage as few parts of the world are accepting it with regulation, the bigger questions are - if it is regulated, does it serve the purpose of building a decentralized economy? If not, then why do we need this?
Do listen to our podcast where we try to dig deeper into the thoughts presented here.
https://youtu.be/Yxj05CBBeKI
Unravel with CA Saksham Agarwal
Enjoy the podcast!
