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Know about Cryptocurrencies’ Past, Present, and Future

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Cryptocurrencies Past Present and Future

Know about Cryptocurrencies’ Past, Present, and Future.

What is the future of money? Thousands of years ago, our ancestors used to exchange food, hunting equipment, and livestock. And now Uniswap, the world’s most popular crypto exchange, and barter protocol has generated a billion dollars in fees! The money has come full circle. Welcome to the first issue of this weekly “zero BS” column on future money and cryptocurrencies. Today we discuss the past, present, and future of money.

We spend most of our time in an endless race to earn money. But many of us don’t know what money really is.

1. The past

Our ancestors started with the barter system, something like “I’ll give you two buffalo in exchange for five shiny new, super-sharp axes.” They soon realized that the barter system had too many limitations:

  • everyone didn’t want buffalo,
  • buffalo were not divisible (not many people would want 0.35 buffalo)
  • buffalo were not portable (imagine having to carry a buffalo on your shoulders while shopping!).

So they moved to more acceptable, divisible, homogeneous, and portable forms of money: cowrie shells, salt, gold, silver, and much more.

The Chinese invention of paper eventually led to the birth of paper money, which was initially backed by gold or other precious metals. The United States dollar was on the gold standard for many years. That means the dollar was backed by gold. This ended on June 5, 1933.

The United States government continued to convert dollars into gold at a fixed value until August 15, 1971.

Today, the entire world has switched to fiat money, a currency declared legal tender by a government but not backed by a physical product.

Take a look at an Indian banknote (anything except a 1 rupee banknote). It carries a promise signed by the Governor of the Reserve Bank of India (RBI):

“I promise to pay the bearer the sum of one hundred rupees.”

If you took this note to the RBI governor, he would (probably) give you coins or rupee notes. (Disclaimer: I haven’t tried it!)

These banknotes issued by the RBI can be used as “legal tender” in India. That means everyone must accept them for all legal payments. Remember the demonetization of some banknotes in India in 2016? Well, legally speaking, this is what happened: the “legal tender status” of the then Rs. 500 and Rs. 1,000 banknotes were withdrawn.

2. The present

The birth of computers and the Internet has brought many innovative payment systems, such as debit and credit cards, network banking, mobile wallets, UPI, etc.

The cryptocurrency revolution began with Satoshi Nakamoto’s groundbreaking whitepaper “Bitcoin: An Electronic Peer-to-Peer System” in October 2008. This brought to the world Bitcoin, the first truly peer-to-peer electronic currency. Today, there are almost 6,000 cryptocurrencies that are actively traded!

These cryptocurrencies are of many types: medium of exchange coins, stable coins, utility coins, privacy coins, meme coins, NFTs, etc.

There are also specific use case cryptos that are disrupting sectors such as e-commerce, education, data warehousing, gaming, marketing, media, supply chain, video streaming, and much more.

Do you know that there is a crypto project called Basic Attention Token (BAT) that is monetizing human attention? Yes, it is true, human attention! I will cover this in a future issue.

3. The Future of Cryptocurrency

According to me, the money must have at least 1 of the following characteristics:

You should be able to buy and sell things using it
I should be able to keep my accounts using it
I should be able to maintain and grow my savings with it.
Money is not just cash and bank deposits. It includes much more: art, cryptocurrencies, stocks, gold real estate, loyalty points, etc.

Let’s say I have a great idea for a startup. But I don’t have the money to hire a good team. I could pay them using shares in my startup. You could also give them ESOP (Employee Stock Options). If my startup is successful, my team could sell its stock at a big profit.

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Appeals court allows Texas to continue banning most abortions

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Appeals court allows Texas to continue banning most abortions

Appeals court allows Texas to continue banning most abortions.

AUSTIN, Texas – A federal appeals court is once again allowing Texas to continue to ban most abortions.

Thursday night’s decision keeps the law known as Senate Bill 8 in place as the Justice Department tries to stop the law.

The Biden administration is suing Texas over restrictions that prohibit abortions once heart activity is detected, usually around six weeks.

The US Court of Appeals for the Fifth Circuit has now allowed the law to proceed three times since August.

Texas law allows private citizens to collect at least $ 10,000 in damages if they file a successful lawsuit against an abortion provider who violates the restrictions.

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Lance Bass and her husband are now proud parents of twins

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Lance Bass and her husband are now proud parents of twins

Lance Bass and her husband are now proud parents of twins.

Lance Bass used to tour the world as a member of NSYNC, but now he has a very different life. Bass and her husband Michael Turchin are proud parents, news they were delighted to share with the world.

Bass and Turchin welcomed the twins to their family today, Violet Betty and Alexander James. The NSYNC singer was delighted that everyone knew about this joyous event through his Instagram account.

While calling his twins “baby dragons,” Lance Bass shared how incredibly happy he was and how much love he felt. Obviously, a lot of good wishes flooded the couple and he addressed them with gratitude as well.

The baby dragons have arrived !! ❤️❤️❤️❤️❤️ I can’t express how much love I feel right now. Thanks for all the kind wishes. It meant a lot. Now how do you change a diaper? Ahhhhhhhh!

The proud new parents got married in 2014 and announced that they were expecting twins in June via TikTok. This came after the family had a difficult surrogacy situation involving a miscarriage, multiple IVF treatments, and nine different donors. The ubiquitous COVID-19 pandemic didn’t help either.

Through all the adversity, Lance Bass and her husband Michael Turchin never gave up on their dream of becoming parents. Today, the 42-year-old former boy band member and her 34-year-old husband saw the fruits of all that hard work join their family.

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Business

Jay Z invests USD 19 million in company in cannabis products

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Jay Z invests USD 19 million in company in cannabis products

Jay Z invests USD 19 million in company in cannabis products.

Jay-Z is considered one of the most legendary rappers in the world of Hip-Hop. In addition to his musical prowess, Hov is also a smart businessman and is worth over a billion dollars for good reason. You also realize that people love to gamble.

Jay-Z was one of the names linked to the acquisition of the Denver Broncos from the NFL for a lucrative $ 4 billion. This would have made Jay-Z the first black owner of an NFL team.

Unfortunately, that ultimately didn’t happen, as Jay-Z was said to have no interest in investing that much money in the Denver Broncos in the first place. Instead, he decided to invest a lot of money in a smart home company.

Now it appears that the music mogul has decided to invest $ 19 million in payment company Flowhub as it is entering the marijuana industry alongside venture firms Headline and Poseidon.

Worth $ 200 million, Denver-based Flowhub helps cannabis dispensaries process payments and has raised a total of $ 50 million to date. While talking to Forbes, Flowhub founder and CEO Kyle Sherman spoke about Jay-Z’s investment in the business.

“When Jay says, ‘I’m not a businessman, I’m a businessman,’ it’s true. “He has incredible business acumen, he really knows how to surround himself with brilliant people and build great companies.

We are delighted to announce this capital increase. Headline is an incredible Silicon Valley-based venture capital firm, Poseidon is a pioneering investor in the cannabis industry, and JAY-Z is a global cultural and creative force no matter what industry they are involved in.

I couldn’t think of a better group to work with as we take this company to the next stage. This funding not only underscores the significant value that Flowhub offers to our clients, but also the maturation of the cannabis industry in general. We remain committed to developing innovative products that help our retail customers do better business. “

Jay-Z will continue to shine in whatever business endeavor he sets out to do and that is unlikely to change anytime soon.

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