Issues Cryptocurrencies can Solve
Cryptocurrencies can operate at a universal level. It allows users to make cashless transactions with low transaction fees and is very fast. It enables everyone to do business all over the world. It is possible to travel anywhere globally without converting to that country’s currency. You can pay for example in Bitcoin, Ripple or other cryptocurrencies, by using Peer-to-Peer technology.
With blockchain technology, people from anywhere in the world can make payments or transfers without having a bank account. With the use of a smartphone, you can make cashless payments globally with wallets you can store your Bitcoin and Altcoins in and purchase tickets, hotel rooms or pay for dinner anywhere.
Double Spending and Bookings
Blockchain is a container of data - this container holds millions of transactions. It’s having a strong confirmation mechanism and transaction records. Blockchain does not allow multiple transactions for the same coin with other words no double spending.
Tampering of Data
Cryptocurrencies are digital and the values are on a blockchain. Every device serves as a server. This makes it global and it is not possible to tamper with the data. The reason why is to change data on all the servers (hardware devises like computers, phones, and printers) is impossible. This makes the data safe.