Thursday, January 7, 2021

The Cryptocurrency Conversation 

Presented by PCA Technology Solutions  

Technology continues to evolve, and the pandemic showed us more than ever that the reliance on technology is here to stay. 

Although Remote Working, Cloud Computing, Automation, AI, Digital Strategies, and much more are all relevant conversations, this will focus on Cryptocurrency. 

In 2020, we have had to give some thought to cash and the role it plays in our life.  It is germ infested, a challenge to trace and we are experiencing a shortage.  You can take all of that how you want but the truth is, the future of cash is uncertain. 

Internally, we witnessed the power of this on January 1st while watching DOGECOIN.  We learned of the backstory of how it came to exist, and we literally watched it double right before our eyes.  And then triple – all within hours.   

Did you know: 

• The cryptocurrency market value is expected to reach $1,758.0 Million by 2027.
• In the second quarter of 2020, there were 18.42 million Bitcoins in global circulation.
• Bitcoin was valued at $9,165 at the end of June 2020.  It broke $30,000 as we entered 2021 – just SIX months later.
• The blockchain technology market is expected to reach nearly $40 billion by 2025. 

Another form of cryptocurrency is used for payment in recovering from ransomware.  This is what forced us to become experts on the subject years ago.  Our clients and our communities deserve our expertise.  Sure, we can keep your computers protected and safe but having us as your trusted IT partner gives you far more than that.  Our team is positioned to take you to the next level – and that might very well mean working together with you to have a full Cryptocurrency plan.  While our primary focus is Cybersecurity, Managed IT Services, Professional Services, vCIO Technology Consulting and VoIP solutions, our vision is “To be the trusted leader in World-Class IT Solutions.”  So that means we need to be experts on this topic, too. 

Here’s how nerdwallet.com defines cryptocurrency: “Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You will need to exchange real currency for the cryptocurrency to access the good or service. 

Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.” 

It is extremely complex, and we could go into detail for quite some time on options - how it likely is going to be used in the future and why it is essential for you to know about - but we will save that for another day.   

If you want to have a more in-depth discussion, we welcome a call at 833 YOUR PCA; we would be happy to have a conversation. 

www.pcatechsolutions.com  #PCAknowsIT  #TheThreatsAreReal