Is Cash Dead? The Rise of Digital Currency and What It Means for You

Bitcoin - A Digital Currency

In today's ever-evolving technological landscape, digital currency stands out as a revolutionary force in finance. What exactly is digital currency? Is it ushering in a new economic era, or is it a risky gamble? According to Narayanan (2020), digital currency is a form of payment that exists solely in electronic form, transcending traditional physical cash. Its reach extends beyond online transactions, potentially impacting global financial systems. The prospective impact of digital currency on reshaping the worldwide financial framework and ushering in a fresh epoch of financial inclusivity and effectiveness hinges on its capacity to surmount physical constraints.

Digital Currency, despite its infancy, is already an emerging technology utilised by many. Proponents of digital currency hail its potential to revolutionise financial inclusion. Unlike traditional banking systems with limitations on geographic reach and minimum account balances, digital currencies can empower the unbanked population. Imagine a world  where individuals in  remote villages or those lacking formal identification can access financial services through their smartphones. Digital currencies could streamline microtransactions, facilitate international remittances at lower costs, and empower individuals to participate more actively in the global economy. This increased access could fuel economic growth and reduce poverty, particularly in developing countries.

While digital currency is the next big step for our finance, we simply cannot forget to acknowledge its potential challenges that we may encounter. The lack of central oversight associated with some digital currencies raises concerns about security and stability. The decentralised nature can make them vulnerable to hacking and fraud, potentially leading to significant financial losses for us, the users.  Furthermore, the volatility associated with some digital currencies raises questions about their sustainability for everyday transactions. Imagine the uncertainty of buying groceries with a currency whose value fluctuates wildly. These challenges need to be addressed through robust regulations and the development of secure digital infrastructure before the true potential of digital currency can be realised.

In conclusion, digital currency presents a fascinating paradox. It holds the promise of financial inclusion and efficiency on a global scale, but also carries inherent risks that require careful mitigation.  The future of digital currency hinges on our ability to harness its potential benefits while addressing its shortcomings through responsible regulation and technological innovation.

- R. R. Nadales

References

Cited Source:

https://doi.org/10.29121/granthaalayah.v8.i8.2020.935

Image:

https://www.ineteconomics.org/uploads/featured/bitcoin-fiat.jpg

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std::cout << "DECLAS-SEL-FIED ";

Hej läsare! Välkommen! Jag är Russel. Or should I say, Hello readers! Welcome! My name’s Russel. You can call me ‘Russ’ or ‘Sel’. 

Welcome to my digital domain, where bytes boogie and algorithms waltz, where coding is the language and innovation is the melody. As you step into this virtual sanctuary, prepare to embark on an adventure through the binary pathways of my mind, where each line of code is a brushstroke on the canvas of possibility. Allow me to be your guide through the corridors of my mind, where bugs are mere features waiting to be discovered, and debugging is an art form. Here, curiosity reigns supreme, and creativity knows no limits. Together, let's compile a symphony of ideas and execute them with precision. 

Take 1 – A Little Bit of Myself  

Ett två... Ett två tre...  

(cue: mid-tempo hi-hats)  

Not your typical young adult – I am a blend of various passions and interests, defying conventional labels and embracing the diversity of life's experiences. How would I describe myself? 

I am a First Year BSCS-SE student, deeply passionate about computer programming, philosophy, psychology, mathematics, and theoretical and applied sciences. Alongside my academic pursuits, I find solace in the company of feline companions and express myself through artistic endeavors. Golfing may seem like an unusual addition, but it's an old hobby that brings me joy and challenges me to strive for excellence. Moreover, I aspire to be a visionary leader, always seeking innovative solutions and inspiring others to reach their full potential. 

Born in '04 - My upbringing in a bustling city environment has shaped my perspective on life. The rhythm of urban living has instilled in me a sense of adaptability and curiosity about the world around me. It's within the vibrant streets and diverse communities of the city that I've discovered my passion for exploration and my thirst for knowledge. 

Undeleted – Outtakes 

Now, diving into the unknown. There are some things about me that people don't know, or maybe they just don't know much (for new peeps). 

For those who don’t know, yes, I am an only child. I am the only child of my parents. Growing up as an only child is kind of fine, I guess? I have no competition to compete with in the first place. However, I've always wondered how it feels to have a sibling. Well, I'll have to wait until I start my own family and ask one of my future children how they feel about having a sibling. 

Hey there! Just so you know, I used to be the SCT President back in senior high school. Running for that position was a total rollercoaster for me—it was my first and last time going for it! SCT, or Student Coordinating Team, was all about connecting students and the school. Oh, and on top of that, I was also the class rep at the time, so you can imagine, it was quite a balancing act! 

So, get this, I got into playing golf for fun and to be a professional golfer one day. Wasn't really feeling it at first, you know? But luckily for me, my grandpa was this total golf champ back in the day, and he kinda passed on the torch to me. Thing is, he wanted me to spend the whole summer getting hardcore into it, but I wasn't super pumped about that, so I took a break after a couple of years of training.  

Math isn’t always one of my strongest suits, especially compared to science. I was an average math student back in grade school. Hate to admit it, but my math skills were pretty mediocre back then. I guess continuous training has helped me improve my math skills, so I've been expanding them beyond what I thought possible. Right now, one of my strongest areas in math is something to do with Calculus. 

Alright, shifting gears here, I'm what you might call a classically trained musician (well, sort of, I guess?). Yep, you heard that correctly! When I hit the ripe old age of 10, my folks decided it was high time to get me enrolled in some piano classes. Managed to breeze through three out of the four courses they signed me up for. But, as luck would have it, schoolwork started hogging most of my time, so I had to put my extracurriculars on the back burner. Fast forward to now, I've been tinkering on those ivories for almost 11 years. Can you believe it? 11 YEARS!!! And yet, I still feel like there's room to up my game. Also, I am a not-so-great guitarist. Ok? I had only finished two sessions. 

DECLAS-SEL-FIED 

Declassified? Nah, it's actually DECLAS-SEL-FIED. So, it's like this wordplay, mixing 'declassified' with this nickname my college buddies came up with for me. They grabbed the last three letters of my name and bam! 'Sel' it is. Totally random, right? But that's how nicknames roll in college, outta nowhere! I selected this title for my blogs to unveil hidden truths meant for sharing, encompassing my own insights, opinions, and thought-provoking commentaries. 

I think that’s for today. I know for some; it’s tiring to read my second blog entry. Until next time reader. 

Hej då. Tack! 

- R.R. Nadales 

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Sending out an 'SOS' - SOS by ABBA: A Lyrical Analysis

On a sunny and warm afternoon in the summer of '018, I stumbled upon a song that would change the way I view love. That song was "SOS" by ABBA. This timeless classic by the Swedish Supergroup has captivated listeners for decades with its irresistible melody and heartfelt lyrics. Comprised of Agnetha Fältskog, Björn Ulvaeus, Benny Andersson, and Anni-Frid Lyngstad, ABBA's music often reflects everyday experiences, including their personal turmoil. Released in 1975, the song continues to cause a sensation of heartbreak. 

"Where are those happy days? They seem so hard to find..." 

The song's lyrics open with 'Where are those happy days? They seem so hard to find,' preceded by a haunting melody played on the piano, setting an emotional and melancholic journey of urgency. This serves as a poignant allegory for the ache of longing for cherished memories that may never be experienced again, especially in the wake of a recent breakup. "Whatever happened to our love? I wish I understood..." A few bars later, the song transitions into the line, "Whatever happened to our love? I wish I understood," revealing the narrator's introspection on their relationship's demise. This lyrical shift is accompanied by a majestic crescendo of Moog synthesizers, signaling a sudden change in mood from a melodramatic ballad to a powerful pop-rock chorus. 

“So, when you're near me, darling, can't you hear me? S.O.S...” 

“So, when you're near me, darling, can't you hear me? S.O.S...” These heartfelt words echo the plea of someone reaching out desperately for connection, for understanding, for reassurance in the face of emotional turmoil. It's as though the narrator is standing on the edge of vulnerability, hoping against hope that their loved one will respond, will truly hear their call for help. As the chorus kicks in, we are suddenly transported to a surge of emotion that shifts from melancholy into hope and triumph. The music grows louder and fills the air with a sense of urgency and longing that resembles its character's own distress. We're feeling the weight of their emotions, deep longings as this song transitions from a deeply sad piece to a renewed sense of hope and pride. 

"When you're gone, how can I even try to go on? When you're gone, though I try, how can I carry on?" 

Even in the absence of a relationship or heartbreak, the poignant lyric, "When you're gone, how can I even try to go on? When you're gone, though I try, how can I carry on?" evokes a sense of melancholy and longing, resonating with anyone who has experienced a recent break-up. From Agnetha Fältskog's heart-wrenching vocals to Anni-Frid Lyngstad's soaring performance during the choruses, the song is a masterpiece. The lyrics become apparent in the penultimate segment of the song, reflecting the reality that moving on is a difficult and lengthy process. Sometimes, the enduring love for someone prompts self-questioning about the ability to move forward with life. 

SOS is a great example of storytelling. Its poignant lyrics serve as an allegory, calling out for an SOS—a cry for help. The song explores the theme of heartbreak and the emotional turmoil that accompanies the end of a relationship. Through the narrator's expression of desperation and vulnerability, reaching out for support, the song captures the struggle to cope with the pain of a breakup. The lyrics convey a profound sense of longing and uncertainty, reflecting the universal experience of lost love and the desire for reconciliation. Despite the narrator's attempts to reconcile with their lover, the song concludes without a definitive answer, leaving room for interpretation among listeners and fans alike.

- R.R. Nadales

Here's the YouTube link for the Official Music Video:

https://youtu.be/cvChjHcABPA?si=ygFB4gMCVlV5CUXH

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