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“The Encrypted Currency”

Updated: Jan 20, 2022

My name is Carolina Pérez, I studied Journalism at the University of Santiago de Chile and I’m currently working in a company named Davinci Codes. This is a software development company located in Chile, whose objective is to develop software that can manage cryptocurrencies.

When I first arrived at this new workplace, I felt my coworkers were talking in a completely different language than I was. Thus, I recently decided to write a blog about Bitcoins on the company’s web page and look at it from an inexperienced point of view. I will be writing once a week about different subjects inside this encrypted reality.

The name Bitcoin didn’t ring a bell when I was first introduced to it. Once I thought more about it, I realized that wasn’t the first time I heard the term Bitcoin. Actually, the first time was a few years ago when I was doing some research on the so-called Dark Web. During this time, it came to my attention an article about an anonymous market site called Silk Road. This site was an underground drug marketplace that could be accessed through the Deep Web. People were able to purchase all sorts of drugs in it and pay for them with Bitcoins. At the time, I didn’t give it much thought other than thinking, “Ok, there is an underground currency..." but I had no idea how it worked. However, to my surprise, a few years later this type of currency appears in my life, and not as a Darkweb currency, but as a legitimate type of virtual money.

This cryptocurrency is based on certain protocols and algorithms that constitute a network in order to make transactions. By using bitcoins, you are helping to regulate the system without the need of the government or a specific entity. The first thing you must have to be a part of this is a program that acts as a wallet in which you store the bitcoins.

I’m pretty sure you have heard the expression “Not everything on the internet is real," well, this type of money is the real deal. Nowadays, there are millions of people investing in them, buying flights, booking hotels at Expedia, buying gift cards, and also trading these Bitcoins in different parts of the world.

A week ago, I downloaded a free app called Jaxx, which is a bitcoin wallet, and got my first set of coins. I’m excited to see how it actually works and maybe buy something for the first time using my bitcoins; of course, I will write about it when I do.

So how do I feel about Bitcoin?

Well, I’ve heard so much that it blows my mind. It seems you must be an expert or good with numbers to actually be able to use this currency. Our world is constantly being simplified for us, and we've grown so accustomed to this fact, and now comes Bitcoin and changes the game with a very appealing, yet complicated world; or at least that’s what it seems. I’m also a person who likes security, "I like to know what I’m getting myself into," especially when it comes to money. Now, if there is so much to learn about how this encrypted currency works, it definitely doesn’t make me feel secure to have or maybe even invest money in this relatively new system. I’m sure it's intriguing for many people. There is always a new era for everything, but have we come across the new era for money?

There is so much more involving this cryptocurrency world, so I will be discovering it one step at a time. I feel that this encrypted money has a future, but, for sure, there is a long way to go to win over everybody in believing in it.

So with that being said, my next blog will be about trusting the system and how complex this step might be for some people.

I hope you enjoyed it! I’m looking forward to reading your comments.

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