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Cryptocurrency: The Greatest Development in Global Finance

The history of finance arguably began in Italy with the development of banking systems by the Medici family in the 15th century. The establishment of institutions devoted to both personal and professional finance was a huge development in the world of finance, as well as the history of the human race in general. This development revolutionized the way people handled finances and also created the potential for large sums of wealth to be accrued for individuals and businesses alike. The Medici banking system has remained largely unchanged until recent decades. With humanity’s growing dependency on technology, however, the financial systems of old stand to be remade by another development – cryptocurrency.

What is Cryptocurrency?

The textbook definition is simple – cryptocurrency is a digitized form of currency that functions independently of any central authority, and can be used for international business on all levels. Cryptocurrency was created as a reaction to the economic crises of the early 21st century. At that time, the majority of the world had their finances tied to traditional banking institutions. With the collapse of several major banks, however, both individuals and businesses lost massive amounts of money. The exact causes behind the banks’ collapse are diverse, but a contributing factor was the fact that traditional banking systems rely on strict and centralized forms of authority for regulation. Cryptocurrency puts control back into the hands of investors.

Entrepreneur and financial professional Sebastian Greenwood is a leader in the world of cryptocurrency. The company that he works for, OneCoin, is a cryptocurrency trading platform that was created in response to the monopolization of the market that Bitcoin had enjoyed since its founding in 2008. For the average person with a profitable interest in investment, OneCoin provides an accessible and affordable trading platform.

For Sebastian Greenwood inspiration and ideas grew from the concept of returning financial control to customers, rather than central authorities. The world of finance is experiencing a shift from traditional banking systems to more personal, community-based platforms of trade. This is happening, of course, on a global economic scale. This is the future of finance because it provides a unique and easy way for individuals to exercise the financial control they need to ensure their futures.

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