Answer 1:

Blockchain

Blockchain will definitely change the global economy. One of the areas of the global economy that is set to be greatly affected by blockchain is the data management sector. Blockchain is set to make data management and data security a lot easier and more efficient than it has ever been. This is set to influence several industries that rely on data management and hence the whole global economy (Gunanda & Komala, 2020). The integration of blockchain in the industrial financial systems of major world economies is also se to greatly affect the industries. There are various industries that are expected to majorly rely on the blockchain technology in their operations. The banking industry will experience the biggest change due to the blockchain technology integration. This will influence the whole global economy.

Speedy Transactions

A major change that will be brought about in the world economy is the speed in transactions. Blockchain will enable the banking industry to conduct their services without actually having to interreact with customers on a face-to-face basis. Most banking services will be provided through the blockchain technology due to efficiency and privacy. Another important reason why blockchain will be very important in the near future and will definitely change the global economy is that governments will use the technology to effectively run their services. This will improve efficiency and economic growth (Gunanda & Komala, 2020).

One of the sectors in the global economy that will greatly benefit from blockchain is the small and medium sized enterprises. These will incorporate blockchain use to ensure efficiency in running their businesses (Gunanda & Komala, 2020). The availability of capital through loans to these businesses will greatly change the global economy. The small and medium sized businesses will grow greatly. This will lead to a corresponding growth in the global economy.

Reference

Gunanda, I., & Komala, A. (2020). Development of enterprise resource planning using blockchain. IOP conference series. Materials science and engineering, 879(1), 12141–.

Answer 2:

The cryptocurrency has become a useful purpose of investment. Many cryptocurrencies have entered the market in the past few years. Bitcoin is the most famous cryptocurrency followed by Ethereum and Tether. Both these cryptocurrencies have become highly popular in the market. Ethereum or Ether gives a tough competition to Bitcoin today. It has successfully addressed the issues regarding environmental sustainability and volatility. It has also offered commercial adoption which helps the bigger organization accept the currency during business transactions.

Tether is also called the first stable coin the investor for long-term investments. Another advantage that Tether offers is that it is supported by the American dollar. Tether is also level on various public chains. The difference between Ether & Tether can be defined as follows (Raj & Deka, 2018). Ether works effectively for the short-term investment whereas Tether works for long-term investment success. The similarity between Ether & Tether can be both Ether and Tether are considered to be the most popular trading currency that people like to use.

I have been using Bitcoin cryptocurrency since 2017. Though I have not used use amount while dealing in cryptocurrency, I did not have any loss (Gupta, 2019). Actually, it is difficult from the beginning but as you keep learning the tricks you will find the investments in cryptocurrency highly feasible and can be used for higher investments. But you should also remember that there is risk involved and you have to study the market and the practicability of the cryptocurrency before you start investing in it.

References

Raj, P., & Deka, G. C. (2018). Blockchain technology platforms, tools, and use cases. Academic Press, an imprint of Elsevier.

Gupta, N. (2019). Security and privacy issues of Blockchain technology. Studies in Big Data, 207–226. https://doi.org/10.1007/978-981-13-8775-3_10