New forms of money are becoming extremely popular nowadays. Is this a positive development or adding risk to the system? Should new money technology face greater regulation and scrutiny? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write at least 250 words. You should spend about 40 minutes on this task.

The finance system has been changing throughout the world with the development of technology in the

last

decades .

Crypto

Correct your spelling

Cryptomoney

money

currency

has been very popular among

people

as an investment tool. Nowadays, the most popular cryptocurrency is Bitcoin, even though, there are a lot of sub-cons. Cryptocurrency

also

has its own market,

also

.

Therefore

,

People

have been discussing whether

this

new

currency

is safe enough or creating a new risk to the existing system. I think that new forms of

money

should be investigated thoroughly with detailed regulations by

countries

. All

countries

have their own

currency

and their central bank.

Money

is published by

countries

' central banks with the approval of their governments.

This

process is quite complicated and the central bank should have enough income

such

as precious metals etc.,

while

publishing new

money

.

Due to

the fact that fluctuation of

currency

and inflation rate have been calculated

according to

countries

' financial power.

However

, considering these complicated systems in the

countries

, it is not clear who produces

this

currency

.

Moreover

, how is the value of the crypto coin set and who decides? It is produced in computer farms without

controlling

Wrong verb form

being controlled

show examples

officially. Some of the finance

people

think that it will be ended sooner as a soup foam. I agree with them and

also

I think that it is quite similar to gambling like rolling the dice. The ironic situation is that some

people

have been increasing their income with

this

market.

On the other hand

, some of them have cheated and lost their

money

in

this

market. In conclusion, I firmly support that there should be clear definitions and strict investigations for the new forms of

money

.

This

should not be turned into a new gambling medium.