Skip to main content


Cornell Student Articles on Topical Affairs

Exceedingly bright – Cryptocurrency and the future

Over the past few years, the battle between traditional banking methods – centralisation – and modern, digital financial models – decentralisation – has waged on, with sound arguments on all sides. But, as time has moved us on, we have seen the advantages evolve exponentially in terms of modern currency models like cryptocurrency.

Even the cryptocurrency exchange market, which was years ago not nearly as expansive as it is today, has grown in leaps and bounds, giving way to a new evolution in digitisation in the financial industry. The traditional means of transferring and relying on financial security and stability are not exactly broken, but they are becoming increasingly flawed as the rest of the world gravitates towards digitisation.

The revolution in technological advancement that is the introduction of cryptocurrency is here, and it is going to continue to increase in persistence until a digital takeover is not only expected, but inevitable.

Cryptocurrencies are at the core of modernisation in businesses, entire industries, and even individual financial balances. The adoption of blockchain technologies has allowed for the development and implementation of revolutionary products that pave the way for a more connected, convenient future.

Unlike traditional currency, understanding the exact value of cryptocurrencies like Bitcoin and Ripple is an intricate lesson, and one that sometimes falls on deaf ears. While it can be overwhelming to understand to begin with, once one has taken the time to research and understand the essence of cryptocurrency, it is straightforward and quite easy to navigate.

We crave convenience, speed, and agility in all aspects of our lives, and cryptocurrency allows us the opportunity to embrace those traits all at the one time. Cryptocurrency virtually embodies all the traits that we consistently ask for and demand, so refusing to trust in the system that hands us everything we have ever wanted on a silver platter is irresponsible and frankly quite silly.

We need cryptocurrency going forward, and we will do well to wholeheartedly embrace it, rather than needlessly pushing it away.

Bitcoin alone is a prime example of the probability for an exceedingly bright future for cryptocurrency. In the USA alone, 18% of students asked said that they own, have owned in the past, or plan to invest in Bitcoin or other cryptocurrencies over the coming years.

This statistic alone suggests that Bitcoin ownership and adoption is steadily rising, and it can only go up from here on out, if future generations have anything to say about it. Convenience and ease of access are both concepts that are continuously spoken about and emphasised, and yet when we are handed solutions that meet these desires on a silver platter, we poke holes in their concepts and try to uncover fractures that are just not there.

The younger generations are pioneering the transition into digitisation, and they have a sound and positive understanding of what cryptocurrency can do for the world and for the people, but those of us that are used to the traditional methods are finding it difficult to let them go and trust in the unknown.

A system that is built off the internet feels like it holds so many risks – after all, the internet is world-wide. But it is the structure of the system of cryptocurrency that makes it so strong and dependable. Millennials are the first generation in history that have grown up literally surrounded and immersed in technology.

From the time they were born, they were surrounded by televisions, laptops, smart phones, and iPads. As time as gone on, and technology has gone through more waves of revolutionary advancement, millennials’ comfort and reliability on technological advancement has only increased.

Going into the future, when aspects of life such as education, healthcare, business, and entertainment are all taken digital, it only makes sense that our financial platforms evolve to become digital in their core as well. Having access to cryptocurrency platforms will allow us to have instantaneous and undisruptive control over our finances; where they go, what they look like, when we receive them and can send them…everything.

Cryptocurrencies like Bitcoin and Ripple are finding their way into more and more of our everyday lives. Industries and businesses are embracing them wholeheartedly, realising the potential for increased consumer loyalty and trust in the face of the utilisation of a system that is faster, more efficient, and more secure than the third party financial representatives that said consumers are used to dealing with.

Individuals are realising that they can get paid their income faster and without the hassle, which is an invaluable asset to them.

We place a lot of importance on our financial security and stability, and so when we are faced with the opportunity to withhold or embrace a currency system that makes our lives easier, we should be more than willing to do so. Cryptocurrency is an inevitability in the future anyway, so we might as well embrace it now.

Leave a Reply

Skip to toolbar