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Practical and Theoretical Applications of Cryptocurrency

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If you’ve heard about the broader world of cryptocurrency as one to get involved with through the grapevine of investment, you might be excited to get started and to see where that road will take you. However, now that you’re here, perhaps you’re interested in the other paths ahead, the other crypto applications. What can it be used for today? Where is it going in the future?

Nobody could answer the latter question with 100% confidence, but it’s interesting to consider as a theoretical and could have you thinking about it in a different way than as something that purely stands as an investment opportunity, and more as part of the online culture it is today.


The foremost application for cryptocurrency is, in this case, something that you’re already aware of – its ability to be used as a method of investment. Most people aren’t thinking about the long-term implications of digital currency, and are instead more inclined to view it as a financial opportunity.

However, the more people that think along this line, the more general interest is generated in crypto as a whole, allowing it to develop, with more money behind it. This can generate higher interest in the prospect of investment from the likes of businesses when something like Cosmos comes along through platforms like okx.com, which can alter and improve the very landscape of crypto, the way it operates in tandem with blockchains to be more effective.

Trade and Exchange


That’s the other practical use of crypto – using it as a form of trade, something that is decentralized, away from any sort of singular authority and away from the banks, making it something that certain businesses might lean towards. In the theoretical sense, some works of speculative fiction, such as Kim Stanley Robinson’s ‘The Ministry of the Future’ has put forward the idea that this decentralization could be used in some way to incentivize carbon neutrality through its bestowal upon meeting certain targets, therefore being implemented in a means of fighting environmental damage.

While this might be a long way off from the circumstances or form that it appears to be in today, having some idea of theoretical uses it could have for society at large might help the shape that it ultimately takes to be more substantial than something linked to niche internet circles.


That being said, this distant dream might be damaged by the supposed damage that cryptocurrency can do to the environment through its very creation. Being something that’s often thought of as being online-only, the result is that many people end up thinking of digital currencies as simply being harmless to the environment. However, digging into some of the reports behind bitcoin mining might allow a different narrative to emerge, and that might go a long way to provide some conflicting ideas as to how it could be used going forward.

It’s not likely to overtake traditional currency. Still, when it becomes suggested that it could be used in practical, constructive senses, so it’s important to know as much as you can about cryptocurrency to see how well that theory holds up.