Cryptocurrencies ‘Not a Fad,’ Says Federal Ministeron November 22, 2021 at 5:43 am

The Minister for the Digital Economy, Jane Hume, has said that cryptocurrencies are “not a fad.” In a speech on Monday at the AFR Super and Wealth Summit, Hume stated that with 17 percent of Australians investing in cryptocurrency, it is “an asset class that has captured hearts and minds” of Australians. “Whatever you might personally think—it’s a technology that’s not going away any time soon.” “Don’t be the person in 1995 who said the internet was just a place for geeks and criminals and would never become mainstream.” A cryptocurrency is a form of payment that can be exchanged digitally for goods and services. Many companies have issued their own currencies, often called tokens, and these tokens can be traded for the goods or services the companies provide. Of these, the most popular form of cryptocurrency is bitcoin. The primary difference between cryptocurrency and fiat currency—which is the paper …

Marina Zhang

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