Book Title: Digital Economy
Author: Michael Santos
Date Read: August 29th 2024
I chose to read this book because it was sent to me from the author. Since he has gone through everything I am currently going through I have found all of his books have helped me to take incremental steps in the right direction. Furthermore, I chose to read this book to gain a better understanding of the digital economy and cryptocurrencies. The global market seems to be utilizing cryptocurrencies more often and they are becoming widely accepted.
I have learned many things from this book to follow I will give you a few examples. I learned that cryptocurrency was founded to create a financial system that does not require a central government. That a blockchain is like an open ledger that is maintained across computers linked in a peer to peer network that offers transparency for all transactions that ever take place using a crypto like Bitcoin. I’ve also learned that there are altcoins such as Ethereum and Solana and how altcoins aim to separate themselves using abilities such as transaction speed, security, and lower transaction fees to make their cryptocurrency more desirable for widespread use. Another example are NFT’s (Non Fungible Token’s) which are digital assets that are stored and verified on a blockchain. This could be anything from digital art to virtual real estate.
This book contributes to my prospects upon release. It offers me a glimpse of how to invest in cryptocurrency by using an exchange like Coinbase to purchase and sell crypto. It shows that I can create content by minting NFT’s that can be sold and resold with royalties thus adding a revenue stream that would help me be a contributing member of society. The digital economy is growing at a fast rate and in order to thrive in the future I must be willing to adapt to future advancements in the financial world.
