Cryptocurrency is a digital currency regulated by encryption techniques, operating independently from central banks, with bitcoin being a notable example. The future of cryptocurrencies may rely on the actions of global regulators and the acceptance by major retailers, as well as the potential issuance of digital currencies by central banks. Efforts to enhance trust and access in the cryptocurrency ecosystem could significantly benefit underserved communities excluded from traditional banking systems.

3.  A digital currency in
which encryption
techniques are used
to regulate the
generation of units of
currency and verify
the transfer of funds,
operating
independently of a
central bank.

4. 
Bitcoin is one of the types of
cryptocurrency that is specially
designed to permit a single
transaction to be mined
inaround 10 minutes.
 “Bitcoin is the beginning of
something great: a currency
without a government,
something necessary
and imperative.

5.  Cryptocurrency is cryptographic,
which means that it uses a
special encryption that
allowscontrolling the generation
of coins and confirming the
transaction
 It can be sent from one person to
another, but without a central
bank or the government
attempting to track it.
 The system depends
on cryptography to control
the creation of the currency.

6.  The Federal Reserve could issue its own digital
currency, as some global central banks are
exploring.
 Large companies such as Amazon, Walmart and
Starbucks might issue digital coins that inspire
trust and gain wide acceptance.
 Retail giants, by accepting payments in the
currency, could elevate Bitcoin, Ethereum or
another cryptocurrency above the others vying to
offer safety, soundness and utility.
 Finally, if trust is lost in government-backed, or
fiat, currencies, a cryptocurrency future could
come about by default.

7.  The future of cryptocurrencies
will depend on the
coordinated approach of
global regulators and
policymakers.
 There underpinning
technology could strengthen
operations, notably with
regards to money transfers
and financial market
infrastructure companies.

8. Bitex believes that it can make the greatest impact on society
by working at the local level, and ensuring that the benefits
of this new cryptocurrency-based digital economy can also
be felt by those under-served or left out of the current
banking system.