Cryptocurrencies are the first major development made possible by blockchains. Put simply they are digital currencies that develop their own value in real, centralized money. Blockchains enable a specific cryptocurrency to have several advantages over physical cash.

Primarily, cryptocurrencies implementing a blockchain are capable of being securely transferred between peers using a standard internet connection at minuscule cost percentage of the total transaction.  What this means is that anyone with a phone and internet connection (a significant portion of the world at this point, let’s be honest) can send a secure money transaction to any specific individual anywhere in the world for less than one percent cost. Yes, the future is here.