My thought---Is Physical Cryptocurrency Realistic

Good day to you all my fellow tfc members it such a great day to discuss a wonderful topic, we might have often wonder how it will be if there was a physical form of cryptocurrencies but is this really realistic and challenges that might make this not to be ideal.

Today I will be discussing this and possibly helping us to see clearly in the light of this.

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How Realistic Is Physical Cryptocurrency

Is this plausible? The creation of a physical cryptocurrency is this something that is workable or practical or something that could be achieved? Well it remains to be seen as that idea has often crossed the mind of developers as it has for crypto enthusiast.

Cryptocurrencies is one of the various forms of payment today that's rapidly gaining mass adoption and wide acceptance but unlike fiat it has no form of physical nature or representation like in coin or cash no hard form like fiat which had a physical note making people wonder if cryptocurrencies could also be like that if it could have note or physical coins as the case may be to use for transactions.

Well while this is all nice when we play around with it, the truth of the matter is I don't believe it's something realistic or practical considering the nature of cryptocurrencies which was built solely to operate on blockchain technogy which is to say it's a digital asset now trying to create a physical token of it gives rise to a problem, like how do we maintain the consistent supply of it's physical currency if it's even achieved and it would be even more difficult to regulate it as a physical currency.

This is really not realistic at all as physical cryptocurrency would mean that the authentity of this coins would come into serious question and the security would seriously be jeopardize and it's even difficult to regulate cryptocurrencies as it is as a digital asset how much more when it's in physical form with the thousands of crypto coins we have available making a physical currency if them all becomes and issue.

Also how will they fit in to the already existing form of payment and this would actually negate how cryptocurrencies was supposed to function as a form of money that runs on blockchain technogy that offers decentralized finance and financial freedom because it's decentralized and secured so to me I feel physical cryptocurrency is not attainable or realistic.

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Challenges To Creating Physical Cryptocurrency

One of the challenges that could be encoutered in the course of creating a physical cryptocurrency is one that's already common to fiat which is creating a physical cryptocurrency would mean it's possible to replicate this by dubious individuals and create a counterfeit one and so for them to ensure this is not done it would mean that developers would have to create a type of physical note or token which can't be copied or replicated by anyone ofcourse this is a challenge and it would be difficult to achieve.

The fact also that cryptocurrencies runs on blockchain makes it a challenge to create a physical cryptocurrency as it would be hard to link the physical form of cryptocurrencies to the one in the blockchain I mean synchronizing this two while ensuring that users accesibililty is maintained is indeed a hell of a task also the distribution of this physical cryptocurrency would be an issue as it would be hard to produce this in a scale it would reach everyone doing this whilst ensuring it's security is a complex feat.

Another main concern is security, since cryptocurrencies are digital asset and built on blockchain technogy which is decentralized in nature it naturally ensures it's security now ensuring the security of this physical tokens becomes an issue as it would no longer be covered by blockchain as it is no longer a digital asset but physical which means it could be lost or even stolen anything goes it could even get spoilt or things like that so the fact remains that creating a physical cryptocurrency is a big issue.

The issue that comes with this is really great that it makes cryptocurrencies loses it's true form or nature so that's why creation of physical cryptocurrency could only be an idea or fantasy which could never be realistically achieved.

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Conclusion

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Ofcourse I believe we have been blessed in this out generation with what we have been opportuned to witness and use that's the use of cryptocurrencies a hard form of money like bitcoin functioning in one of the most advanced technology known to man that's blockchain that has revolutionize finance as we know it today and brought about true financial independence and freedom, so whether physical is attainable or not to me it's the best form of money we could ever get and bitcoin indeed is digital gold.