The major benefit is around decentralisation, so for example, organisations or governments cannot control your Bitcoin. This is quite appealing to many people who are concerned about the way in which their money is used and controlled. Financial crashes such as the 2008 recession was possible because peoples money and investment was being controlled banks. Cyptocurrencies like Bitcoin do not use banks or bankers. The stock exchange and finances are increasingly controlled by risky investments and algorithms, so digital currencies therefore offer a way of people taking control back. There are also opportunities to make money from these new currencies for people that know what they are doing. Finally, there could be some potential for currencies like Bitcoin and blockchain to make a difference to wealth distribution. With its pros and cons, blockchain registers, certifies and imbues transparency, three basic aspects of a healthy financial system. In combination with a mobile phone, that represents the opportunity to bancarize two billion people. – BBVA In 2021, Blockchain gained much more prominence and an all-time high for value, with companies such as Tesla investing $1.5 billion in Bitcoin.
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