Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !
Hmm, I don't know about this thought but I think some Fiat currency also has digital aspect of it for example, the apex bank in my country just launched its own digital currency known as the E-naira where people can be able to use online but that doesn't free it from the fact that its still controlled by a third party as the government are in full control but its also a digital currency so I think you need to be more district with the specifications of the particular digital currency you are talking about.
Absolutely, you make an important point. While many governments are indeed exploring the digitalization of their fiat currencies, such as the E-naira, it's crucial to distinguish between centralized digital currencies like these and decentralized cryptocurrencies like Bitcoin.
Centralized digital currencies are issued and controlled by a central authority, typically a government or central bank, which retains substantial control over their issuance, supply, and transactions. Users are subject to government regulations, and transactions can be monitored and censored.
On the other hand, cryptocurrencies like Bitcoin operate on decentralized blockchain networks, where no single entity has control. They offer greater autonomy and privacy to users, with transactions recorded on a public ledger. Users can transact peer-to-peer without intermediaries, making them a powerful tool for financial freedom and security.
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