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# NamePriceChanges 24 hoursMarket capitalizationVolume24 hoursPrice chart(7D) Crypto
The banking system has been the same for many decades. The banks can, by turning certain knobs, influence the economy. This is often characterized as monetary policy.
The goal of monetary policy is to keep the value of a currency as stable as possible. That is one of the most important ‘tasks’ of a government. However, the past teaches us that this policy also regularly turns out to be completely wrong.
The best example of this was the Zimbabwe dollar. The influence of the Zimbabwean government allowed the people of Zimbabwe to pay with 25 billion, 50 billion, 100 billion and 100 trillion bills.
Of course, that was an unnatural situation and partly because of that, the Zimbabwean dollar was abolished in 2015. However, this unnatural situation was created by the monetary policy of the government and associated national banks.
Since this system has been in place for decades, one got the impression that no change could be made to this system. In practice, it appears that this is indeed very difficult. Yet a revolution has been underway since 2008; the so-called blockchain technology in combination with cryptocurrencies, including bitcoin and altcoins.
Since 2008, this technology has been on a gigantic rise. Especially in recent years, more and more people are coming into contact with this unique form of technology. The goal of blockchain technology is ultimately to circumvent monetary policy. This may sound a bit woolly. Below we explain the blockchain technology in simple language:
If you carry out a transaction, you always need a third party for this. This is a bank or a provider that checks your transaction. As a result, all your transactions can be viewed by a third party. Privacy? Does not exist in this situation. Make an anonymous payment? That too is unthinkable in this situation.
The purpose of blockchain technology is to be able to carry out a transaction in a secure, fast and anonymous way. A decentralized and open system is used. No one owns this system and one can use the peer-to-peer network.
This means that anyone can use this system. Moreover, due to the design of the system, hacking is also not possible. Blockchain technology
Now that the blockchain technology is clear, we come to the next item; the cryptocurrencies. Blockchain technology is basically a unique product, but it is not yet fully viable. Partly because of this, the inventor of blockchain technology has also invented a so-called cryptocurrency; the well-known bitcoin.
Cryptocurrency is basically a digital currency with which transactions are carried out. With the help of the cryptocurrency, the blockchain technology can be put into work. The anonymous transaction carried out via the blockchain takes the form of a certain digital currency. In recent years, the various cryptocurrencies have shot out of the sky like mushrooms. The creators of these cryptocurrencies think that they can improve or facilitate life in a certain way.
A value is attached to a digital currency; the so-called rate. This price is very volatile within the cryptocurrency market and therefore very interesting for investors. If an investor had invested €100 in bitcoin in 2008, this investor would have been a multimillionaire in 2018.
It is in line with expectations that the prices of the various digital currencies will rise. It is therefore quite possible to earn a lot of money with the help of the cryptocurrency. But, pay attention to this; some people claim that the cryptocurrency market is one big bubble. This means that the price of the various digital currencies can go down in one fell swoop. That is also the truth. The prices of the digital currencies are very volatile. Why is that? One of the reasons is the fact that this form of currency is completely new.
People have to get used to it and therefore resistance also occurs in certain people. In general, these are people who have not delved into it or people who are active in the old-fashioned and narrow-minded banking world.
The fact remains that one should be careful when trading in the cryptocurrencies. The fact is that this is a volatile market. So don’t just pump all your money into the digital currencies. Only invest money that you can really miss and do not expect to bring you a multimillionaire within 2 months. This form of investment is also about the long-term results.
