Cryptocurrency
Bitcoin, blockchain, and the question of whether decentralized currencies will reshape finance.
What is Cryptocurrency?
Cryptocurrency is digital money that operates without a central authority. Bitcoin, created in 2009, uses blockchain — a distributed ledger that records every transaction. No bank, no government, no single point of control.
Promise and Peril
Advocates see crypto as liberation from inflationary fiat currencies and corrupt institutions. Critics point to extreme volatility, energy consumption, and use in illicit activity. Central banks are responding with CBDCs (Central Bank Digital Currencies) — India's e-Rupee pilot launched in 2022.
- •Blockchain is the technology; cryptocurrency is one application
- •Bitcoin's supply is capped at 21 million coins — built-in scarcity
- •DeFi (Decentralized Finance) aims to replace traditional financial intermediaries
- •India taxes crypto at 30% and charges 1% TDS on transactions
💡 Did You Know?
The first known commercial Bitcoin transaction was in 2010: 10,000 BTC for two pizzas. Those Bitcoin would be worth over $600 million today.