I’ve been saying for awhile now that you know you are thinking outside society’s box when there are no words or phrases in your language to say it – whatever it is you’re thinking. Likewise you know a thing is new in society when there are no words, or no commonly understood words, except maybe a standout brand name to describe it. When I say “cryptocurrency” or “blockchain” to people to describe a new form of money that has come into existence, and in my opinion will become widely known and used, people’s eyes glaze over. Hell, my eyes glaze over! What the heck is that? So I say, “like Bitcoin.” “Oh…,” is the pensive reply, with only a little more comprehension.
But “bitcoin” puts one in mind of some quixotic fad that rose up and has remained contained among a few of the more intense computer nerds on the planet. It’s something weird and interesting to chat about in passing – nothing more.
But when the Bank of Canada coins (forgive the pun) a new term, “e-money,” by which they mean cryptocurrency, perhaps we need to move this conversation beyond casual interest in the exotic. The term, “E-money”, will move easily into the center of our language. It will be carried there by a tsunami of increasing use of e-money by main-stream people all over the world.
Already, ten cryptocurrencies, according to David Loenhardt, writing The Future Of Canadian Currency May Be Digital,
have market capitalizations over $10 million, verging on the mainstream. …
The world monetary system will face the same disruption at the hands of the Internet that other sectors have already faced. The future of money in Canada might even be more about choice in payment methods.
In fact, the “in Canada” aspect might someday become an anachronism. Already, money moves internationally with ease through services like PayPal. It’s a small leap to cryptocurrencies that live outside of state borders. …
Imagine (as a Canadian) buying something from the States without worrying about whether or not the Loonie is discounted more than 20 per cent against the greenback? That’s the world of (cryptocurrencies). …
The future of money in Canada is going to be digital, and it might not even be “in Canada.” … I don’t think my grandparents would be ready for this brave new monetary world. Are you?
The most famous, and largest e-currency at $6.8 billion, is still Bitcoin. The second largest at $4.1 billion, and by far the fastest growing, is OneCoin. OneCoin is growing so fast because its founders saw the need for education about e-currency and have harnessed the power of network marketing to spread the word – to explain e-currency to people, to make it easy to use, and to unfold the significance of its arrival on the world stage.
OneCoin is the e-currency whose motto might as well be, “making cryptocurrency accessible to the world.” Whether or not you or I are ready for the transformation to digital money, OneCoin is.