Cryptography is the process of converting messages into unreadable text so that only the intended recipient will be able to read them. Cryptography is responsible for the security, anonymity, and trust less transactions of digital currency. – entirely without the services of a financial institution.

We'll define cryptography as the study of methods to exchange sensitive information over an insecure channel in such away that only authorized parties can access it. In our case, this will be exchanging ownership of cryptocurrencies (which is represented digitally), or transferring ownership by signing digital messages.

A bit of history:

Cryptography dates back to the time when people began exchanging messages in forms other than face-to-face conversations(e.g., via written letters). The first known use of cryptography can be traced to Egypt, about 2000 years ago, during the reign of Pharaoh Thutmose III. Other known historical uses of cryptography are in the works of Julius Caesar, who used a simple cipher for messages between him and his generals.

The purpose of cryptography in crypto

A blockchain-based cryptocurrency needs some form of encryption to secure its money supply from being stolen by hackers or malicious software. It also allows for the anonymous transfer of funds between individuals without requiring a trusted third party, such as a bank or government institution. Cryptocurrencies are entirely based on cryptographic ideas.

Compared to cash transfers, cryptocurrencies do have another layer of security built into the blockchain: cryptography. The purpose of which is to validate transactions and prevent unauthorized access to the ledger by keeping all information inside a digital file that only authorized people can see. It's kind of like a physical vault (or safe) where you can keep all your money. But, unlike a physical vault, there's also no way to access the safe without a private key or password.

Usage of cryptography in Cryptocurrency

Cryptography is used in several different components of Bitcoin's security model, as well as in other cryptocurrencies.

Bitcoin addresses, which are used to receive and send funds between people on the blockchain, have both public keys and private keys. Only the owner of an address's private key can spend funds sent to the address, and only the owner of an address's public key will be able to receive them.

Every time you send or receive bitcoins, your transaction is signed with the appropriate digital signature using your private key. Since you can't share your private key with the person receiving your bitcoins, they verify that the signature is correct using your public key. The process of sending and receiving bitcoins between addresses is entirely anonymous and doesn't require any personal information (although there are ways to link transactions to identities).

Cryptocurrencies use public-key cryptography in order to prove ownership of addresses and transactions. This is done with a piece of data known as a digital signature, which is obtained using the sender's private key, and attached to the end of every transaction block along with other information about that block. Each new transaction has its own signature, verifying that the sender owns the address that is being used to send the funds. Since only the owner of a private key can create a digital signature for it, this provides a very strong guarantee that nobody else has sent their cryptocurrency to an address other than the one currently being spent from.

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Cryptocurrencies have been revolutionary in their pursuit of merging decentralization with the finance sector. The industry has grown to provide many alternative options to the traditional financial products available, with most of them at a fraction of the cost. Cryptocurrencies have digitized the way we view, use and manage our funds, and it's only the beginning of the digital assets revolution.

What is cryptocurrency?

Cryptocurrency is the blanket term used to describe any digital asset that utilizes blockchain technology or distributed ledger technology to operate. The first cryptocurrency that came into existence was the Bitcoin network, created in 2009 by the mysterious Satoshi Nakamoto.

The cryptocurrency was designed to provide an alternative monetary system to the traditional banking sector, free from politics. Instead of a central authority, Bitcoin operates using a decentralized network of computers that work together to transact and verify any financial transactions using the Bitcoin protocol. For the first time ever people could manage their money without having to rely on a centralized institution.

Since Bitcoin's success, many other cryptocurrencies have emerged, some providing a revised solution to the digital cash system Bitcoin created, while others have brought innovation to the crypto space.

The Ethereum blockchain, as an example, provides the industry with a platform on which developers can create decentralized apps (dapps) merging the app concept with the decentralized nature of blockchain technology.

Cryptocurrency vs traditional currencies

Traditional currencies, also known as fiat currencies, are operated by government institutions while cryptocurrencies are maintained through a network of computers following a specific protocol. While a Federal Reserve typically sits behind a fiat currency, the key players in a cryptocurrency's existence typically involve:

• Core developers, responsible for updating a network's protocol
• Miners, responsible for validating and executing transactions
• Users, the people using the cryptocurrency
• Exchanges and trading platforms, facilitating the trade of these cryptocurrencies.

While governments have free control over printing new money, most cryptocurrencies are created with a hard cap. For instance, Bitcoin was designed with a maximum limit of 21 million coins, meaning that there will only ever be that number in existence. Not all cryptocurrencies have this hard cap though, Ethereum has an infinite supply due to the nature of the platform and the cryptocurrency.

Unlike fiat currencies, Bitcoin and many other cryptocurrencies were designed to be deflationary, with the necessary factors in place to ensure that the value of the currency increases over time (based on simple supply-demand economics).

Another pressing difference between cryptocurrencies and fiat currencies is that cryptocurrencies are still undergoing regulatory processes. While they are not illegal to trade (in most countries), they are not yet considered to be legal tenders (again, in most countries). Regulators around the world are working on a legal framework in which cryptocurrencies can operate in mainstream markets.

How do cryptocurrencies work?

Now that we've covered the basics on what is cryptocurrency, let's take a look at how these digital currencies actually function. First and foremost, through the use of blockchain technology. While not all cryptocurrencies use this technology, most do and we will use it as an example (as the concept is roughly the same).

Blockchain technology explained

Blockchain is best explained as a digital record-keeping system, or a distributed database. All transactions made on the network are stored in a transparent manner for anyone to see, with no way to edit or omit any of the information. All data is stored in blocks, which are added chronologically to a chain, hence the name.

A block will contain information relating to every cryptocurrency transaction, like timestamps of when it took place, the sending and receiving wallet addresses, transactional hash, and amounts. Depending on their size, blocks typically store data for a few hundred to a few thousand transactions. Blocks will then also hold a block hash, a unique identifying number associated with the block, and the hash of the previous block to prove its order.

When companies incorporate blockchain technology into their businesses they will typically use a private network where the information is only transparent to certain users. This is referred to as a "permissioned" blockchain, different from a "permissionless" blockchain used for Bitcoin and other cryptocurrencies.

Cryptocurrency transactions explained

While blockchain forms the backbone of a cryptocurrency network, miners facilitate the transactions. In a process called mining, cryptocurrency transactions are validated and executed, and through cryptocurrency mining new coins are minted. To make this easier to understand, we're going to use an example of Lucy sending Bitcoin to Jane.

From her Bitcoin wallet, Lucy will initiate a transaction to Jane, sending 1 BTC. After entering Jane's wallet address, she will confirm the network fees presented (these are paid directly to the miner for their time and effort), and execute the transaction.

The transaction will then enter a pool of transactions waiting to be executed called a mempool. Miners then compete to be the first to solve a computational puzzle, the winner of which will be rewarded with verifying and executing the next batch of transactions (cryptocurrency mining).

Confirming that each wallet address exists and each sender has the available funds, the miners will collect each of the network fees that the senders paid. The data from the confirmed transactions will then be added to a block and added to the blockchain right after the last published one. For adding a new block to the blockchain, the miner receives a block reward.

This block reward is based on the current rate, which is halved every 210,000 blocks (roughly every 4 years). This is how new Bitcoin enters circulation and the currency is able to maintain a deflationary status.

Jane will then receive a notification to say that she has received 1 BTC, and depending on her wallet will need to wait for 3 - 6 confirmations before being able to access the funds. Each confirmation is when a new block is added to the blockchain, which typically takes 10 minutes.

This process is typical of a proof of work network, used on networks like Bitcoin. This process is also the same whether you are buying crypto from crypto exchanges or sending to a friend.

The only time this differs is when using a cryptocurrency blockchain that utilizes a proof of stake consensus. In this case, instead of miners competing to solve the puzzle (requiring a lot of energy), validators will be selected by the network to conduct the verification process afterwhich this information will be verified and added to the relevant blockchain ledger.

The different types of cryptocurrencies

With tens of thousands of virtual currencies on the market, a number of subcategories have been created. While Bitcoin is a digital cash system providing a store of value and a medium of exchange, not all cryptocurrencies follow this structure.

Cryptocurrencies that are not Bitcoin are referred to as altcoins, (alternative coins), a term coined in the early days when new coins started emerging. Some altcoins are focused on providing heightened privacy, security, or speed while others are created for entertainment and leisure.

There are nine main types of cryptocurrencies, which we'll briefly highlight below:

• Utility, provide access to the platform service
• Payment, used to pay for goods and services within and outside of its network
• Exchange, native to cryptocurrency exchange platforms
• Security, where its usage and issuance are governed by financial regulations
• Stablecoins, digital currencies with prices pegged to fiat currencies
• DeFi tokens, digital currencies used on DeFi (decentralized finance) exchanges
• NFTs, non-fungible tokens representing unique identities that cannot be replicated
• Asset-backed tokens, where their underlying value is backed by a real-world asset

Another category that is gaining popularity around the world is Central Bank Digital Currencies, CBDCs. These digital currencies are operated and maintained by a central bank with the price pegged to the local currency.

What are the benefits of digital currency?

Cryptocurrencies are known for their fast and secure transactions, not limited by borders or government intervention. Below are several highlights that cryptocurrencies bring to the financial sector.

• Decentralized. Eliminating third parties and centralized authority, cryptocurrencies make the transfer of assets possible while reducing costs and time constraints.
• Security. Blockchain provides a transparent and immutable means of storing transactional data ensuring smooth and accountable operations.
• Deflationary. Most cryptocurrencies with a limited supply are designed to be deflationary in nature due to the decreasing supply mechanisms set in place. With basic supply-demand economics, a reduced supply and increased demand drive the price up.
• Reduced transaction fees. Cryptocurrencies provide a much cheaper alternative to sending fiat currencies across borders. With no need to exchange currencies and bypass several middlemen, cryptocurrencies are able to be sent on a peer-to-peer basis in a matter of minutes.
• Diversification. When it comes to investing, cryptocurrencies present a measure of diversification. Considering your risk tolerance and asset allocation, cryptocurrencies could be a part of your investment portfolio.

What are the risks associated with cryptocurrencies?

While there are plenty of benefits, as with any "new" asset class, there are risks to be considered too.

• Market volatility. Cryptocurrencies are prone to bouts of volatility with prices rising and falling dramatically in various frames of time.
• Market manipulation. Some cryptocurrencies might fall victim to a pump-and-dump scheme through no fault of the networks'. These are typically orchestrated by third parties.
• Theft. While blockchains can't typically be hacked, many cryptocurrency exchanges and wallets that don't utilize the necessary security measures can fall prey to hackers. To avoid this ensure that you always stick to a regulated platform with high-security measures.

How does one store cryptocurrency?

Cryptocurrency is stored in a digital wallet, similar to how one would store money at financial institutions only with cryptocurrency you are entirely in control of your funds. From the wallet you can make crypto transactions, store a wide range of cryptocurrency assets and hold your cryptocurrency investments long term.

Each cryptocurrency wallet is specifically designed to hold a certain type of cryptocurrency. For example, you cannot accept Bitcoin in an Ethereum wallet or send Bitcoin Cash to a Bitcoin wallet. Each wallet also comes with a set of public and private keys, the latter of which gives the holder access to the funds.

How to trade cryptocurrencies on cryptocurrency exchanges

Now that you understand what is cryptocurrency, let's cover how to enter the world of crypto assets. Entering the world of cryptocurrencies can be both exciting and rewarding. While we encourage every single person to conduct their own research prior to getting involved, once you're ready to start your journey into the cryptocurrency space, we're here for you.

Crypto exchanges

In order to buy any digital currency, traders will need to utilize cryptocurrency exchanges. These exchanges facilitate the buying and selling of crypto assets, and depending on the structure, often require users to offer some proof of identification before conducting any cryptocurrency transactions.

Decentralized vs centralized

The cryptocurrency market is made up of decentralized exchanges and centralized exchanges. The difference between the two is how they are operated, with centralized exchanges have a central authority. Typically, the centralized ones are more reliable and trustworthy as they require licenses which hold them accountable to certain standards within the financial sector. When looking to trade any digital currency, find an exchange that is regulated and licensed by a financial body.

The Tap app is a mobile app that allows users to buy, sell, trade, store and even earn crypto through a secure wallet infrastructure. Supporting a number of popular cryptocurrencies, users gain access to a wide range of markets. Fully regulated by the Gibraltar Financial Services Commission, the app uses top-of-the-range security technology to ensure that all data and funds are secured at all times.

Open an account

To engage in the cryptocurrency market all one needs to do is create an account. To open an account on Tap simply download the app from the App or Google Play store, enter the details required and complete the KYC process, an international requirement on all reputable digital currency platforms. Users will then gain access to a number of crypto and fiat wallets, with the ability to accumulate a wide range of cryptocurrencies.

From there, users can make cryptocurrency transactions, whether to friends also using the platform, external wallets or even external bank accounts for online payments, such as municipalities. The app offers a modern approach to banking services where funds can be used for real world payments. 

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As all things “metaverse” continue to dominate headlines, the virtual world has established itself as front and centre of mainstream media. Decentraland provides a virtual world where users can buy, sell and trade unique assets and engage in interactive apps and peer-to-peer communication alongside in-world payments. The world of Decentraland has seen impressive growth, and it’s about time you learnt about it. 

At its core, Decentraland is a virtual reality platform that allows users to create, experience, and monetize in-house content and applications. Built on the Ethereum blockchain, Decentraland utilizes two main tokens on the platform, LAND and MANA. 

LAND arenon-fungible (NFT) tokens that provide ownership rights to the digital real estate (land parcels) while MANA is the in-house currency that facilitates the sale of LAND and other goods and services available on the platform, like customising one's avatar, for instance. MANA also allows holders to vote on policy updates, subsidies for new developments, and land auctions. 

Decentraland was designed to provide users access to ​​”new artistic medium, business opportunity, or source of entertainment.” The virtual space is made up of 90,601 individual land parcels, each measuring 16m x 16m (256 square meters), and assigned to particular co-ordinates in its “metaverse”.  Each space is assigned to a LAND NFT which records the ownership. 

LAND owners can then develop the land as they please, with several marked districts varying in size and theme. Holders can then lease out the land or provide paid experiences through the creation of animation and interactions experienced on their particular virtual real estate.

Who Created Decentraland?

Decentraland was created by the Decentraland Foundation, founded by ​​Esteban Ordano and Ariel Meilich in 2015, and holds the intellectual property rights as well as maintaining the platform. Before launching, the foundation, which still holds 20% of the total MANA supply, created a decentralized autonomous organization (DAO) allowing the users to make governance decisions. 

In 2017 the project underwent a successful ICO, raising the equivalent of $26 million at the time. These funds were used to drive future operations. 

How Does Decentraland Work?

The core function of the Decentraland network is to track ownership of land parcels, while users engaging in the platform are required to hold MANA in order to participate. 

Through a system of smart contracts each land parcel is tracked on the consensus layer, with each parcel’s own coordinates, owner, and a reference to the content within the parcel. 

The content layer then holds the specifics for each parcel, including the all static audio and visuals, the placement and behavior of items, as well as P2P interactions such as gesturing, voice chat, and messaging. There is then a real-time layer that facilitates all the social interactions of the user avatars.

Decentraland also hosts a marketplace where users can create scenes and wearables and manage and exchange LAND tokens, priced in MANA. 

What Is MANA?

MANA is the governance and in-house currency for the Decentraland ecosystem. With a total supply of of 2.19 billion MANA, roughly 600 million MANA have been burned in LAND transactions bringing the previous total supply down substantially. 

MANA facilitates the platform’s aim of providing a customizable and shared virtual reality space that connects users around the world.

How Can I Buy MANA?

If you’d like to join the metaverse and become a part of the Decentraland virtual community, you can simply buy MANA directly from your Tap account. As part of a string of newly supported cryptocurrencies, MANA is now available for trade on the Tap app, allowing users to buy, sell and spend MANA as they please. 

Decentralized finance, or "DeFi," refers to financial services that provide many of the same features as traditional banks - like earning interest on your money and borrowing from others - but without middlemen who take a fee or charge interest, paperwork, or privacy trade-offs. A chartered accountant and Blockchain do not have much in common, but they are starting to as DeFi and FinTech take over. I

nstead of relying on financial services like banks, users can utilize smart contracts on blockchain. Cryptocurrencies ensuring even more ease of use for DeFi users, providing the hottest speeds, fees, and transparency. Defi and digital currencies are growing in popularity thanks to the perks of Blockchain technology. Let us get more into the concept and how it caters to a larger audience.

The aim and use of DeFi

Decentralized finance is the future of financial services, and it's already here. The aim of DeFi is to provide a decentralized financial services platform that is open and accessible to anyone in the world, using tech like crypto to help advance the everyday life of anyone and any business willing to give decentralization a try.

In the past decade, we've seen a rise in peer-to-peer lending platforms such as Lending Club, Patreon, BTCJam, and an explosion of digital currencies such as Bitcoin and Ethereum.

All of these developments have taken us one step closer to the decentralized future of finance that we've been dreaming about, but there's still more work to be done.

What's wrong and how can DeFi fix it

Many institutions in the financial sector are slow and expensive when it comes to providing basic services like payments. Online lender contracts can charge interest rates as high as 30 percent, and the global remittance industry charges fees that can be as high as 12 percent.

These fees and delays mean some of the most vulnerable individuals of our society are paying the highest prices for financial services when they need them most. While the traditional financial system can be slow and expensive, it doesn't have to be this way. Decentralized finance (DeFi) is an emerging category of services where trust intermediaries such as banks are replaced with cryptographic code and smart contracts, which reduces costs for everyone involved - especially when it comes to international payments.

DeFi is a new category of services that are globally accessible and built on top of blockchain infrastructure, without any charge or barrier to entry. It's also much more secure than traditional financial systems because the technology used isn't connected to a central server that can be hacked. DeFi users smart contracts applications to ensure ease of use and instant transfers of information and funds.

Your money is always yours; it's just moving from one smart contract to another. No permission from an intermediary is required in order to use it. All you need to do is have a cryptocurrency wallet, computer or mobile device, and internet connection like everyone else using DeFi services today.

DeFi isn't coming, it's already here

When you ask yourself, "where is DeFi going?", the answer is simple: everywhere. DeFi can be used from every corner of the world, and it's already available today. Innovation at its finest.

DeFi services are not theoretical. They're already being used by real people today to make real asset payments, earn interest on their digital savings, and borrow money from both friends and strangers, all without ever going through a bank or traditional financial institution. Whether you are investing, a money maker, or an asset holder, the shift to DeFi is inevitable.
Blockchain technology provides the first-ever opportunity for these separate building blocks to come together in order for the entire financial system to work seamlessly without any intermediaries, so it will only get better with time. From an economic standpoint, DeFi offers better rates and all the perks of FinTech. Cryptocurrency assets like Ethereum have seen plenty of investment opportunities arise as DeFi and Blockchain merge.

DeFi pros and cons

In order to get a complete picture of what DeFi is, it's important to understand all the good and bad parts that we are facing now. So let's dive into the details.

DeFi pros:

• The interest rate on savings and money lending is relatively high, just as it would be without intermediaries.
• Financial services are more accessible than in traditional bank systems because there aren't any barriers to entry, like non-existent internet infrastructure or bank account fees.
• Transaction and disruption times are much faster because DeFi transactions can move directly from peer to peer without having to go through intermediaries.

DeFi Cons:

• Some transactions might not be as private due to the public records of smart contracts on a blockchain (keeping that in mind, transparency is always beneficial). This however increases security because fraud or reversal can't happen.
• Access to DeFi services can be limited if you live in a part of the globe where these services aren't supported or don't have high enough adoption rates, as compared to traditional banking systems in developed countries. Regulator issues may also occur.
• There isn't a built-in mechanism for handling consumer disputes between peers because the technology simply wasn't designed with this function in mind.
• It's difficult to understand what you're getting yourself into when joining a DeFi service, since it varies from one application to the next and is based on new technology. This doesn't have to be the case in the future.
  

As of now, it's still the early days for DeFi and there are some challenges to overcome before we can look at it as a real alternative. There's still a lot of work to be done, but it will all pay off in the end.

Du har säkert hört talas om denna kryptojätte — men vet du egentligen vad Ethereum är? I den här guiden tittar vi närmare på Ethereum och vilken roll plattformen spelar inom blockkedjevärlden. Spoiler: en riktigt stor roll.

Som den näst största kryptovalutan och med över 20 % av marknadsandelen är det ett perfekt tillfälle att lära sig mer om Ethereum.

Vad är Ethereum?

Ethereum är en blockkedjeplattform som gör det möjligt för utvecklare att skapa sina egna decentraliserade applikationer (dapps) och smarta kontrakt. Med målet att bygga vidare på hela blockkedjeindustrin erbjuder Ethereum en plattform där företag och individer från alla branscher kan använda sig av decentraliserad teknik.

Smarta kontrakt är digitala avtal som automatiskt utförs när fördefinierade villkor är uppfyllda. Ethereum fungerar som en decentraliserad datorplattform, där ett globalt nätverk av datorer driver och underhåller nätverket — precis som hos Bitcoin.

Plattformen möjliggör inte bara digitala transaktioner utan även skapandet av nya kryptovalutor ovanpå sitt nätverk.

Vad är ETH?

ETH, även känt som Ether, är den digitala valutan som driver Ethereum-nätverket. När folk pratar om Ethereumpriset, är det egentligen priset på ETH de syftar på. Ethereum är alltså själva plattformen, medan ETH är kryptovalutan som används inom nätverket.

Hur fungerar Ethereum?

Ethereum är just nu inne i en övergång från konsensusmodellen Proof-of-Work (PoW) till Proof-of-Stake (PoS), vilket förändrar hur nätverket fungerar i grunden.

I det nya PoS-systemet kommer nätverket att förlita sig på validatorer istället för miners för att verifiera och genomföra transaktioner. För att bli validator måste man satsa (stake) en viss mängd ETH i nätverket. Att stakea innebär att man låser sina ETH-tokens i nätverket, vilket fungerar som en säkerhet för att validatorerna ska agera pålitligt.

Alla transaktioner sparas i blockkedjan, som är en öppen och transparent digital huvudbok. Varje block innehåller en uppsättning data som lagras i kronologisk ordning.

Vad ger Ethereum sitt värde?

Ethereum är i dag den största plattformen för skapande av dapps och smarta kontrakt — och också den mest använda. Med starkt ledarskap och ett passionerat community av utvecklare har Ethereum fått ett rykte om sig att vara en pålitlig, innovativ och positiv kraft i blockkedjeindustrin.

När det gäller ETH bestäms värdet, som hos andra kryptovalutor, av tillgång och efterfrågan. Dessutom används ETH för att betala så kallade "gas fees", vilket gör det möjligt att genomföra transaktioner och driva applikationer på nätverket.

Hur skiljer sig Ethereum från Bitcoin?

När man jämför de två största kryptovalutorna är det viktigt att förstå att de tjänar olika syften.

Både Bitcoin och Ethereum kan användas för att överföra värde globalt på bara några minuter. Men Bitcoin skapades främst som ett digitalt betalningssystem utan central kontroll — ett peer-to-peer-nätverk och ett starkt värdeförvar, vilket prisutvecklingen under åren har visat.

Ethereum, däremot, är utformat som en dataplattform där användare kan bygga decentraliserade applikationer ovanpå blockkedjan. Plattformens syfte är att främja utvecklingen av hela blockkedjeekosystemet och göra det tillgängligt för alla intresserade.

Vad används Ethereum till?

Ethereum används främst för att skapa dapps och smarta kontrakt. Dessutom kan användare överföra värde genom plattformen med hjälp av ETH som digital valuta.

ETH fungerar även som ett värdeförvar — många användare köper och håller ETH med förhoppningen om framtida värdeökning.

Vem grundade Ethereum?

Idén om Ethereum presenterades först 2013 av den unge kryptoentusiasten Vitalik Buterin i ett blogginlägg. Han slog sig samman med flera utvecklare och entreprenörer och började bygga den decentraliserade plattformen senare samma år.

Enligt en av grundarna bestod teamet ursprungligen av Vitalik Buterin, Anthony Di Iorio, Charles Hoskinson, Mihai Alisie och Amir Chetrit i december 2013. Under början av 2014 anslöt även Joseph Lubin, Gavin Wood och Jeffrey Wilcke till projektet.

År 2014 genomförde Ethereum ett framgångsrikt crowdsale-event, där man sålde 72 miljoner ETH och samlade in cirka 18 miljoner dollar. Plattformen lanserades officiellt den 30 juli 2015.

Hur köper man Ethereum?

Om du vill lägga till Ethereum i din portfölj kan du köpa ETH via en pålitlig kryptobörs. Med Tap-appen får du tillgång till flera smidiga betalningsalternativ samt en säker Ethereum-plånbok där du kan lagra dina ETH-tokens tryggt.

Sedan Bitcoin introducerades 2009 har begreppet fiatvaluta blivit allt vanligare. Men vad betyder det egentligen? I den här artikeln går vi igenom vad fiatpengar är, varifrån termen kommer, hur systemet fungerar, och vilken roll kryptovalutor spelar i sammanhanget.

Vad är fiatpengar?

Fiatpengar är pengar som ges ut av en regering och har status som lagligt betalningsmedel – alltså en nations officiella valuta.

Ordet “fiat” kommer från latin och betyder ungefär ”ske så”, vilket anspelar på att valutan fått sitt värde genom en statlig förordning, inte genom något fysiskt innehåll som guld eller silver.

Fiatpengar trycks av landets centralbank och används i vardagen för att betala varor och tjänster. Sedan 2020 räknas all internationell valuta som fiat, vilket innebär att dess värde bygger på allmänhetens förtroende för staten – inte någon underliggande råvara.

Centralbanker styr penningpolitiken och bestämmer hur mycket pengar som finns i omlopp. Exempel på fiatvalutor är US-dollar, euro, brittiska pund, japanska yen och svenska kronor.

Fiatpengar vs fiatvaluta – finns det en skillnad?

I praktiken betyder fiatpengar och fiatvaluta samma sak. Båda syftar på den valuta som används i ett land, utgiven av staten. Idag finns cirka 180 fiatvalutor i världen, och växelkursen visar värdet av en fiatvaluta jämfört med en annan.

Fiatvaluta vs råvarubaserad valuta

Den största skillnaden mellan fiatpengar och råvarubaserad valuta (commodity money) handlar om inneboende värde.

• Fiatvaluta har inget eget värde – den är värdefull eftersom staten säger det.
• Råvarubaserad valuta har värde baserat på sitt innehåll, till exempel guld- eller silvermynt.

Fiatvaluta fungerar tack vare förtroende, medan råvarubaserad valuta bygger på faktiska tillgångar.

Hur uppstod fiatvalutor?

Allt började med enklare system för att spåra skulder – något vi idag skulle kalla IOU (”I owe you”). Här är en kort sammanfattning av fiatpengarnas historia:

🔄 Byteshandel

Förr bytte man varor direkt. En bonde kunde byta 2 kg mjöl mot 10 pumpor vid skörd. Ett handskrivet löfte kunde fungera som kvitto.

🪙 Från guld till mynt

Guld blev en accepterad bytesvara, men var svårt att väga vid varje köp. Så länder började prägla standardiserade mynt i specifik vikt – enklare, tryggare och mer pålitligt.

🏦 Banker införs

Eftersom guld var tungt att bära, började folk förvara det i banker. Banken gav ut kvitton som bevis på innehav – dessa kunde bytas tillbaka mot guld.

💵 Papperspengar

Regeringar började själva trycka kvitton (sedlar), som representerade det guld de förvarade. Men med tiden slutade folk lösa in sedlar mot guld – de använde istället pappret direkt som valuta.

Varför lämnade vi guldstandarden?

Det fanns flera problem med att knyta pengar till guld:

• Om någon hittade mycket nytt guld sjönk värdet på alla valutor.
• Länder kunde manipulera guldflödet och påverka andra ekonomier.

Därför avskaffades guldstandarden, och vi gick över till ett system där pengar bara är värda det som står på sedeln – "på dekret".

Är fiatpengar fortfarande relevanta?

Ja. Trots framväxten av kryptovalutor är fiatpengar fortfarande grunden i världens ekonomi.

Bitcoin och andra kryptovalutor har öppnat dörren för nya sätt att tänka på pengar, och vissa länder har till och med erkänt Bitcoin som lagligt betalningsmedel. Men fiatpengar dominerar fortfarande den globala handeln – och kommer sannolikt att fortsätta göra det.

Vad är CBDC?

En spännande utveckling är CBDC – Central Bank Digital Currency. Det är en statligt kontrollerad digital valuta, som använder blockkedjeteknik men är kopplad till landets fiatvaluta.

CBDC:

• Är digital men kontrolleras av centralbanken
• Har stabilt värde (ingen prisvolatilitet)
• Kombinerar det bästa av två världar: traditionell valuta + modern teknik

CBDC är alltså ett nytt sätt att distribuera fiatvaluta – utan att helt ersätta den.

Slutsats

Fiatvaluta må sakna ett fysiskt värde i sig, men den fungerar tack vare tillit, struktur och statlig styrning. Även om kryptovalutor utmanar det etablerade, är fiatpengar fortfarande ryggraden i den globala ekonomin.

Och även om pengarnas form förändrats genom historien – från glänsande stenar till digitala tokens – så handlar det fortfarande om ett gemensamt förtroende. Framtiden kan mycket väl inkludera både fiat, kryptovalutor och nya hybrider som CBDC.

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