The world’s first digital cryptocurrency (Bitcoin) was proposed in the aftermath of the 2008 global financial crisis with the goal to create a digital payment system without the involvement of large institutions and Governments.
This happened at a time when the Internet was still very new and not too many people were familiar with the technology. Therefore, it should come as no surprise that cryptocurrency took some time to take off, but once it did, it shot off like a rocket.
In 2011, as Bitcoin and the idea of a decentralized cryptocurrency gained momentum, other cryptocurrencies soon began to emerge. The value of the bitcoin market cap exceeded $500 billion. By 2026, it is anticipated that the total market value of cryptocurrencies would be $2 Trillion.
But Will it be sufficient to replace traditional Banking?
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