What is the primary use of cryptocurrencies in the digital economy? 🔊
The primary use of cryptocurrencies in the digital economy lies in facilitating secure, decentralized transactions without the need for intermediaries like banks. They use blockchain technology to provide transparency and security, allowing users to send and receive funds globally with lower fees and faster processing times. Cryptocurrencies also enable new financial models such as smart contracts and decentralized finance (DeFi) applications, which promote innovation and disrupt traditional financial systems.
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