Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1. Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2. Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?
Yes, Cryptocurrencies can be labeled as money because they can be transferred into banks with a conversion process. This conversion is somehow legal because they are connected to legitimate applications and goes through a process of being properly converted into something usable within the physical world. Bitcoin along with other Cryptocurrencies have different uses because some of them have some platform in which we can use their currencies and the only difference is the platform we are using so yeah, it is still money.