Unless you’ve been living in a cave or hiding under a rock for the last decade, you’ll know there’s a new financial kid on the block, and its name is cryptocurrency. Unlike fiat money in the shape of the dollar, pound, euro, or yen, cryptocurrency is blockchain’s native asset and comes in a digital format. As more and more people are waking up to the value and practicality of digital currency in a digital world, the question is often poised – what is better, cryptocurrency or fiat currencies? We touched base with entrepreneur and blockchain strategist Kenny Izevbigie for his take on the debate. As always, the thoughts of the Reblock Ventures co-founder were fascinating.

“The most important consideration when it comes to any money is how secure it is,” explained Kenny Izevbigie. “I’m not so much talking about how its intrinsic value will fluctuate in the long term, although, of course, this is a huge consideration. Yet more important is the question of how susceptible it is to being taken from you by theft, fraud, red tape, or huge transaction fees.”

Kenny Izevbigie added, “This is where cryptocurrency has the edge. For a start, cryptocurrencies are decentralized. Government authorities and policies do not dictate the cryptocurrency market, leaving investors free to make their own decision unburdened by any third-party fluctuation. Secondly, every major cryptocurrency transaction is secured by blockchain technology. This acts as a complex digital ledger or record that is virtually immune to hackers, and so, cryptocurrency investors can rest easy that their investments are well-protected.”

Another fundamental consideration Kenny Izevbigie feels is vital in giving cryptocurrencies the edge over fiat money is their lower transaction fees. He explained, “There have been cases of millions of dollars worth of cryptocurrencies being transferred for only a couple hundred dollars. This is a fraction of what it would cost you to transfer fiat money. Hence the obvious attraction to investors. Finally, because of their digital nature, unlike fiat money, cryptocurrencies are impossible to replicate. They are secure and cannot be corrupted. Additionally, and perhaps the most telling thing is, more and more places are adopting cryptocurrencies. Businesses and brands value its ease of use and the security it provides. As time ticks on and more people become wise to the investment opportunities they boast, I believe the edge that cryptocurrencies have over fiat currencies will become increasingly apparent.”