DETROIT, MI - In recent years, digital money has caused a financial frenzy - there are now more than 1,000 cryptocurrencies with a combined market capitalization of over $400 billion USD. In the grand scheme of things, this represents a relatively small portion of the global economy, but the significant buzz in the media and among investors has much of the general population curious about the potential of virtual funds. Pura Cryptocurrency, an international digital currency, discusses the future of crypto and the benefits it will have on everyday life.
At their core, virtual currencies provide an electronic payment system that enables paperless transaction from one person to another. The experts from Pura Cryptocurrency explained that the exchanges are secured with cryptography, completely anonymous and that they bypass all middlemen such as banks or credit card companies. The lack of a central monetary authority has been one of the industry’s largest selling points, as users don’t have to entrust a third party to handle their funds. The technology that powers these currencies, the blockchain, is poised to drive innovation for decades to come. Essentially a digital ledger that logs transactions in real time without the need for a single, centralized authority, it is used to confirm transactions and prevent conflicts, tampering or duplication. Everyone who participates in the network has a copy of the blockchain, which contains a record of every transaction ever made, on h
