Everyone has heard of Blockchain.
Blockchain is a type of distributed ledger of transactions across a peer-to-peer network.
And cryptocurrencies — Bitcoin, Ripple, DogeCoin (Yes, Elon Musk), Tether, Litecoin — are run by the Blockchain technology.
In 2016, the whole cryptocurrency market was valued at US$9 billion.
Today, the cryptocurrency market is worth US$1.4 trillion.
The amount of cryptocurrency traded daily? US$13 billion.
This is massive volume for something that started only recently.
To put things in perspective, the total value of stocks listed on the New York Stock Exchange is US$24.4 trillion. With a daily traded value of S$169 Billion.
Before I share what is cryptocurrency, I’ll explain first about the concept of money....