Professor Shrewd

  What is Currency? Before understanding the concept of cryptocurrency, one needs to understand what is a “currency”? Currency has evolved with human civilization and has a long history. In the 21 st century, a currency refers to a piece of paper (or sometimes based on metal) issued by some government (every country has its currency), and that is used for the exchange of goods and services. Economist defines currency as something that could be used as a medium of exchange, a measure and store of value—p hoto by Charles Thompson  from  Pixabay  .   The paper-based currencies have its value because a particular government (or issuing authority) guarantee that value. Without a government or issuing authority guarantee, the paper currency is just a useless piece of paper. The central banks of the country control these currencies. The central bank issue currency in specific quantity to ensure the smooth functioning of the entire economy of the country. The ban...