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Showing posts from October, 2019

Cryptocurrencies: A bubble that doesn’t burst, a volcano that didn’t disrupt anything, and a coin that can make few rich but can’t buy vegetables

Article by Kalpesh Popat, Thought Leader for Technology, Nature and Relations, Director @ SARAS ennovations When It All Started Bitcoin, the flag bearer of Cryptos, launched in Jan-2009, but my story unfolds several centuries ago. Let’s take a quick look back into our young carefree days when collecting coins of various countries was a passion. What interested me particularly were the coins of various Kings of India. Our country so rich in its culture was also rich in Kings and their century old coins made for a great collectible, each had their own version imprinted on some form of metal. Before the coins were introduced, barter system was the only means for transaction. Since barter system was rigid as it forced us to have a transaction only when both parties had something useful for each other, coins (currency) became a great engine to fill the gaps in the barter system,  giving birth to a much flexible economy that was also easy to save, account and tax. Currencies, however also ga