Crypto's Impact On Digital Transformation

The basis of my discussion today will be on how cryptocurrency has impacted digital transformation as we know it today, we know that the world itself is going digital and almost everything is leaning toward digital, there is a digital transformation happening in our time and this era could be described as a digital era and a time of technological advancement to levels never seen before.

Now in this process of digital transformation cryptocurrency has really helped to impact this transformation a great deal, we are probably wondering how so, how or what impact have cryptocurrency have on this ongoing digital transformation, well it is what we are going to discover.

So I will like to quickly get down on some of this impacts felt in most industries;

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Some impacts

One of the way cryptocurrency has impacted digital transformation is that finance as we know it before has been revolutionize by the emergence of cryptocurrency and it's technology blockchain because it's creates something not seen before in finance where we are used to centralization which has its issues and granting financial freedom to only a select few leaving much of the masses behind, here cryptocurrency has lead or engineered a complete turnover or innovation of our understanding of finance.

Cryptocurrency brought the concept of decentralized finance, and this decentralized finance has helped to provide solutions to lot of the mishaps we have in finance like having to pass through a third party before a transaction is facilitated, with decentralized finance based on blockchain we transact seamlessly without the hurdle of passing through anyone and even at much greater speed.

So the way cryptocurrency has impacted digital transformation here is on finance, with decentralized finance it ensures a cheaper cost of transaction and ensures that transactions are carried out at much speed when compared to how it was done traditionally whilst reducing the stress of needing a central authority to sign off on a transaction.

Secondly in a world known of it's shady nature blockchain based cryptocurrency have come in to ensure absolute transparency in business dealings, everything done and recorded in the blockchain every possible transactions both incoming and outgoing are transparent for all, ensuring the integrity of the system and trust of it's users, there is nothing hidden here and this illustrate or shows a new dawn on digital revolution.

Noting too that cryptocurrency is also renowned for it's high class and rather very robust security system, a decentralized system ensures that its not prone to the 51% attack and it offers higher security one that is impregnable by hackers which leads to safety of users funds unlike what was previously afforded by the centralized system.

Cryptocurrency has impacted digital transformation also in the aspect of bringing a new investment opportunity, and not just investment opportunity it brings exposure to a wonderful technology blockchain helping people to get the full benefit of this technology and helping to improve the standard of living of man to a whole new digital order as blockchain improves any area of life that they are integrated in making it even more better.

So in all we have alternative choice of investment today and not limited only to traditional asset class, cryptocurrency offers something new and it's a market which in recent times has attracted institutions as we saw in both Bitcoin and Ethereum Spot ETF approval and this has led to the growth of this new market and with it people have come to know about blockchain and how best to use it in other areas of living and this further drives digital transformation.

Cryptocurrency has also help to ensure a new age where we needlessly don't need to worry about delayed payment or transactions as they ensure for seamless and fast transactions both cross border and local transactions are made without any delay which is all part of the way cryptocurrency has impacted digital transformation.

Conclusion

These are some of the ways cryptocurrency is impacting digital transformation, by the emergence of decentralized finance, providing transparency, providing security, fast payment, and a new investment opportunity in this modern times.

Cryptocurrency revolutionization is just only beginning, eventually it would transformed everything completely, patience 🙂