Cryptocurrencies are a digital asset – also considered as an alternative or virtual currency – that uses cryptography to secure transactions.

Cryptocurrency was decentralized by Bitcoin, afterwards, a number of other cryptocurrencies have been created, referred to as altcoins or bitcoin alternatives. Today, Bitcoin’s total value is close to $9 billion. Instead of going with the traditional centralized electronic money or centralized banking systems, Bitcoin and alternatives use decentralized control. It makes use of bitcoin’s blockchain transaction database as a distributed ledger.

The blockchain solution is an innovation in technology. The blocks are a continuously growing list of records, linked and secured by cryptography. Each ‘block’ typically contains a timestamp and transaction data.

In its development phase, it was intended for the digital currency. Now, it has more potential use in technology and finance. It also presents an opportunity to consolidate and even standardize financial markets all over the globe.

The blockchain solution and cryptocurrency have the potential to solve the looming and already present problems of the global financial system.

With the development of blockchain solution, coupled with widespread integration into both public and private sectors and the high yield of cryptocurrencies – we are looking at the answer to the scarce funding of long-term investment.