{"id":146299,"date":"2019-11-07T15:00:00","date_gmt":"2019-11-07T15:00:00","guid":{"rendered":"https:\/\/www.smartinsights.com\/?p=146299"},"modified":"2019-11-04T12:31:48","modified_gmt":"2019-11-04T12:31:48","slug":"cryptocurrencys-impact-on-the-financial-world","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/managing-digital-marketing\/managing-marketing-technology\/cryptocurrencys-impact-on-the-financial-world\/","title":{"rendered":"Cryptocurrency\u2019s impact on the financial world [Infographic]"},"content":{"rendered":"

Ever since cryptocurrency's arrival in 2009 in the form of Bitcoin, it has caused nothing short of a storm in the financial scene. <\/span>\u00a0<\/span><\/h2>\n

Cryptocurrency\u2019s impact on the world is undeniable. Ever since its arrival in 2009 in the form of Bitcoin, it has caused nothing short of a storm in the financial scene.\u00a0<\/span>\u00a0<\/span><\/p>\n

Its approach to money handling differs so drastically from the traditional system that many see its solutions as the future of currency.\u00a0<\/span>\u00a0<\/span><\/p>\n

What Sets Cryptos Apart?<\/span><\/h3>\n

How does crypto differ from the fiat money we use today?\u00a0<\/span>\u00a0<\/span><\/p>\n

For one, it forgoes any kind of third-party, authoritative interference. The transaction process is peer-to-peer, meaning that only the sender and receiver are involved. It is essentially a decentralized network, i.e., there isn\u2019t one data hub or authority overseeing every transfer, but instead, the power is distributed to all users of the network.<\/span>\u00a0<\/span><\/p>\n

It also allows complete transparency, since every transaction is put on a digital record that anyone can access and peruse at their leisure. Furthermore, it is heavily reliant on encryption, making it nearly impossible to hack.\u00a0<\/span>\u00a0<\/span><\/p>\n

\"Sign<\/a><\/p>\n

Speaking of which, every person belonging to the network equally shares the data, which makes hacking even more difficult. The reason for this is that hackers typically rely on cracking into a singular data hub, which doesn\u2019t exist in most cryptocurrencies.<\/span>\u00a0<\/span><\/p>\n

Blockchain:\u00a0the\u00a0Backbone of Cryptocurrency<\/span>\u00a0<\/span><\/h3>\n

How do cryptocurrencies manage all of these feats? The integral system behind almost every cryptocurrency is\u00a0<\/span>blockchain technology<\/span><\/a>. Blockchain was first demonstrated in the form of Bitcoin itself, which is nothing more than a practical application of the technology. This innovation has actually proven to have great potential both as a part of and outside of cryptocurrency.\u00a0<\/span>\u00a0<\/span><\/p>\n

In fact, it is disrupting industries left and right. Digital marketing is certainly no exception. Widespread application and use of blockchain tech can and will lead to sweeping changes in the way marketing works. Here are some ways in which it promises to alter the marketing scene:<\/span>\u00a0<\/span><\/p>\n