Ziyaad Mahomed (Financial Planning Association of Malaysia, 2022)
Over the last century, few assets can claim a meteoric rise as cryptocurrency ('crypto') has. Crypto has taken several forms, with rapid innovation and uniquely linked value propositions, which include: a) CBDCs (Central Bank Digital Currencies that are digital versions of local currency); b) Stablecoins (that may be fiat-backed, commodity-backed or algorithm-based), c) the more well-known Exchange Coins (e.g. Bitcoin, Ethereum and Cardano), and d) tokens (security tokens that provide rights, utility tokens that can be redeemed for access to products and services and social impact tokens that provide sustainable or social impact). Except for CBDCs, other cryptocurrencies have had limited applicability or validity as mediums of exchange. They are in fact digital assets based on a version of blockchain protocol, pioneered by Nakamoto in 2009 and offered first through Bitcoin, the 'father' of cryptos.
