Cryptocurrency is a digital currency that is secured with cryptography, making it difficult to counterfeit. It is not issued by any central authority and is thus immune to government intervention or influence. Most cryptocurrencies are based on blockchain technology, which works like a journal and is enforced by a computer network with different features. Blockchains further ensure the integrity of transactional data.

Cryptocurrencies are not without criticism, however. They are often associated with illegal activities, have an inconstant exchange rate, and are susceptible to attack. On the other hand, they are advantageous in ways such as being portable, transparent, resistant to inflation, and divisible.

Bitcoin, launched in 2009 by an individual/group known as Satoshi Nakamoto, marked the first blockchain-based cryptocurrency as well as the most common and valuable ¹. Currently, there are thousands of cryptocurrencies with various specifications and functions. Most are new currencies designed on their own, while some are bitcoin clones or forks.

Cryptocurrency has contributed largely to the big four government agendas. For example, many investors would be attracted to set up and run industries in the country as the movement of funds would be secure. The quick movement of funds would see a quick growth of the manufacturing sector. Further, the government would be able to keep track of its records over several years. The transaction between government and different manufacturing firms taking contracts would be quick save and the process can be traced easily. This would ensure contractors won’t elude with government money.

In conclusion, cryptocurrency is a digital currency that has revolutionized the financial world. While it has its advantages and disadvantages, it has contributed significantly to government agendas and has become increasingly popular over time.