Digital currency: The technologist’s response to self-employment

Digital currency, commonly referred to as “cryptocurrency”, is a type of money that exists only in electronic format. This is a series of data that uses a technology called Block Chain, which acts as a registry and maintains a history of what the cryptocurrency was used for. Like coins or paper money, digital currency is stored in a digital wallet and can be used as a traditional method for buyers and sellers to pay for the exchange of goods and / or services. The transfer of ownership of a digital currency is stored as a record in the blockchain that can be traced from user to user. There are obvious benefits to tracking the activity of any currency, with the most significant benefits being proof of ownership and fraud prevention and mitigation.

The recent rise in the popularity of cryptocurrency has given way to a new era of wealth in the technology industry. While traditional means of generating income or accumulating wealth usually involve exchanging a product or service for money or compensation, digital currency is generated quite differently. Like digging gold or silver out of the ground, Digital Currency uses “miners” to process thousands and thousands of calculations every minute, effectively digging through a mountain of digital rocks and dirt to find what ultimately turns out to be a solution. an extremely complex mathematical problem.

Until recently, the technologist’s ability to generate salary relied on building digital applications or providing their technical skills to the business. However, with the birth of cryptocurrency, a technologist (or even a novice user with some basic computer programming skills) can bypass basic employment and participate directly in the production of this new currency by building footage of high-powered computers whose sole purpose is to “my” cryptocurrency.

The corporate world relies heavily on the skills and abilities of computer and IT professionals. However, as the popularity of virtual money continues to grow and become more popular, combined with the natural skills possessed by even some of the most basic computer programmers, the corporate world may begin to see cryptocurrency as a threat to their business operations. . Compared to the response of a boss in a technology company, the extraction of digital currency can be a very attractive job opportunity, leading to a potential shortage of skilled computer programmers in the technology industry.