Modernity came alongside the enlightenment age. It was the immediate result of scientific progress which was becoming prevalent in society. Post-modernism was the gradual shifting phase from modernity.
- In other words, if modernity was the age of truths and anthropocentric ideologies then, post-modernity was the direct response to that.
- In a post-modern world, everything is acquired almost virtually, earning can be done virtually, the currency is changing into digital forms as well.
- Cryptocurrency would be impossible without the expanded command of the internet.
It is due to the contributions of the internet that people belonging from different corners of the world can now communicate openly. The information available on the internet is public property and it has become the most easily accessed and valuable resource in the world.
- Social networking platforms, as the protraction of the internet, have given rise to a new world, something like a virtual community that has its way of communication.
- Cryptocurrencies are the invention of such a world. It does not have a physical form and it also runs on a program code. Bitcoin has the potential to replace the fiat traditional currencies very soon.
- There are several advantages associated with virtual currencies like Bitcoin. It is known as “digital gold”. Other than having a good store of value, it is decentralized and reduces the cost of the transaction to great extent.
- The world is changing at a drastic speed and everything is evolving in it as well. In such a world, Bitcoin has brought great progress, it is also used as a medium of exchange for various deals. Bitcoin stands as a symbol of advancement in the post-modern world. Trading cryptocurrencies is difficult but, with visiting here now, beginners can get some help in the trading world.
Postmodernism and Bitcoin
We are blessed with large tech, large financial institutions, big corporations but, with every great progress comes corruption as well. Especially in financial institutions, there is a lack of transparency and hence more destruction. The blockchain system of Bitcoin can reverse the trend and be utilized in a good way.
- Healthcare system – blockchain technology of Bitcoin is now utilized by the healthcare units. Blockchain helps to contract the important data related to patients and store them securely in the computerized system. This reduces the risk of hacking information and exploiting it.
- Music industry – blockchain now allows music artists to receive their royalties and payments right on time. The transparent and decentralized nature of Bitcoin has removed corruption from the industry and even improved employment schemes.
- Real estate – a global real estate marketplace, Propy, uses the blockchain system to make title insurance instant and also offers possessions that can be bought using cryptocurrencies like Bitcoin.
- Digital voting – blockchain offers the faculty to vote digitally, it is highly transparent thus eradicates fraud. Digital voting allows regulators to detect immediately if some illegal happenings are taking place in the procedure.
- Food safety – blockchain system is highly utilized by the food industry to trace the origin of the products. It is also highly beneficial to record certain food-originated diseases, blockchain makes it possible to track the source of contamination at a faster pace than ever before.
- Immutable data backup – blockchain is extensively used to backup data. Not only does it prevent the hackers from getting illegal access to the information but, also develops the infrastructure of the system.
- Travel industry – after facing issues with double booking and monetary losses for the same, the travel industry has incorporated the blockchain technology behind into their systems to innovate the procedure and eradicate the requirement of third parties which leads to unnecessary delays regarding information. It also reduces the cost of conversion of currencies, ATM fees, etc.
Conclusion
The advancement of the world has witnessed several miracles, Bitcoin being one of them. There are numerous advantages associated with the digital asset along with a few flaws. Bitcoin is a highly appreciated invention of the post-modern world.
