Would Digital currency lead to an eventual decrease in Bankruptcy?

By Wirba Brice Divine Ransinyuy. [email protected]

Editor note: Title has been slightly updated

Digital currencies are an amazing form of currency, whether it is made for a local use or an international use, the virtues and the merits that they have are all deserved. Luckily digital currency has come up at the time, the world is must in need of as it permits and enables things to be rendered very easily in terms of marketing. With the world turning more and more digital or virtual, there is need for immediate answers to enable payouts as jobs are being the more and more created online with users round the world.

It is obvious, digital currency will not completely wipe out the use of paper or physical money, but it will play a major role in the world’s economy. With current epidermis hammering the world be it in Asia, Africa or in the American continents, home-based workers are increasing on the radar due to sicknesses and climate change and as such, this is the way in which digital currency eventually enters. Since people cannot go and meet their clients, since clients come from the whole world, digital currencies become the sure and secure method to receive their money. This is particularly the case with a country like Germany where most of the country’s engineers and web technicians are home based workers. Though the use of digital currencies in this country has not yet received full approval, it is already on the move loading to complete acceptance, as it is going through a complete scrutiny on whether, adopting the use of digital currencies will be beneficial to the German economy or it will affect the economy negatively.

With this in sight, much of the hype around or surrounding digital currencies has specialized and focused of their eventual capacity to fundamentally change the financial difficulties in which countries are facing by dropping long procedures, low value of currency, complexity of financial services, thus making the world’s bankrupt markets a new viable market. Indeed, it has already started to have impacts on this sector with countries like CEMAC nations having created their own Mobile money and Orange money reducing cost of transaction like low charges of fees profiting both the rich and the poor all together. Countries that have accepted the use of digital currencies have significantly experience a growth in the country’s economy like low mobility rates, everyone can send money at any time using their phone to any user no matter the time and where the person is situated. This is strengthened by the use of a five or four digit codes which cannot be hacked, thus securing the user’s account.