The most common misconception about blockchain

Blockchain is Bitcoin

I have been speaking about blockchain for years now and the most common misconception is that blockchain is bitcoin, or cryptocurrency.

Of course blockchain is the technology that underpins bitcoin, and all cryptocurrencies today. But is blockchain cryptocurrency… the answer is no.

Is Cryptocurrency Actually Currency?

 It really depends on who you ask?

I think the best answer to this little nugget is that it is a private currency. Although El Salvadore has adopted bitcoin as a legitimate currency. It does not form part of any nations monetary policy or bank interchanges. Don’t confuse crypto here for stablecoins. These are specific use tokens.  El Salvadore is best considered an anomly.
Crypto can be used as a mechanism for the transfer of value… is it typically collateralised? … no it isn’t.  Does it store value? … no it doesn’t … and its value is extremely volatile. Not an ideal mechanism for every day transaction.

There is significant progress being made across the globe in how digital assets like tokens can be used in parallel to fiat currency. The important thing to note here is that real currency that impacts the economy of any given state, is the ability to manage monetary policy, and to protect individuals and organisations through appropriate regulation, that does not stifle the innovation that digital currency offers. Is this actually possible? most definitey!