Banking, as we all know it, has been around since the primary cryptocurrencies were minted-perhaps even before that, in some form or another. Currency, especially coins, grew out of taxation. Within the youth of ancient empires, annual taxation on one pig may are reasonable, but as empires expanded, this sort of payment became less desirable. However, since the Covid situation, not only have we appeared to move to a "cashless" society, (as who wants to handle potentially "dirty money" during a shop), and with "contactless" MasterCard transaction levels now increased to £45. Now even tiny transactions accepted, as a daily newspaper, or bottle of milk, get paid by card.

Did you fairly recognize that there are over 5,000 cryptocurrencies in use already and of them Bitcoin features a top and high position in this list? Bitcoin, especially, has had a volatile trading history since it had been first created in 2009. This digital cryptocurrency has seen tons of action in everyone’s day to day life. Bitcoins initially traded next to nil. The primary real increase occurred in July 2010 when the valuation of a Bitcoin went from around $0.0008 to within the region of $10,000 or more, for one coin. However, with the introduction of what are called "Stable" coins - those backed by the US Dollar, or maybe Gold, this cryptocurrency volatility can now be brought in check.

But before we explore this new sort of Crypto-based E-Commerce, as a way of controlling and using our assets, including our "FIAT" currencies, let us first check out how the Banks themselves have changed over the last 50 years approximately. Who remembers the great old Cheque Book? Then with Bank Debit Cards, alongside ATMs, getting hold of one's FIAT assets became tons quicker, and for on-line commercial transactions.

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CBW - External Analyst

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