Virtual currency is an electronic exchange medium that can be used to pay for goods and services among an unspecified number of people through the Internet. In order to protect transactions, encryption techniques such as public key cryptography, hashing and digital signatures using both are used.

In virtual currency, data such as who sent to whom is recorded and put together in one block. Distributed management of each virtual currency is through block chat, a public transaction database that performs the function of distributed transactions. .

Blockchain is a technology that distributes and records the history of the transaction not on one computer but on multiple computers participating in the network.

• History of transaction data is left
  
• Trade data can not be altered
  
• Supervised by an unspecified number of people

From the above points, blockchain technology can be applied to not only virtual currency but also various businesses that require traceability.

Virtual currency has great potential to transform the social structure, enriching the lives of the Filipino people.

Cryptocurrency is a digital asset transferable among anonymous parties and payable for products and services on the Internet.
It adopts encryption technology such as electric signature based on the public-key cryptography and hash key to protect transaction.

It keeps all the records such as from who transferred to who and groups to one data block.
Decentralized control of each data works in blockchain as public transaction database among Decentralized Exchange (DEX).

Blockchain is distributed ledger technology where not a single but lots of computers participated in the network keep records.

• Transaction data is left perpetually
• Tampering data is protected
• Indefinite number of people supervises each other

Therefore, blockchain technology is applicable not only for cryptocurrency but also any business requiring traceability.

There is a benefit of cryptocurrency remittance between individuals.

e.g.

• Possible for direct remittance between individuals
• Free or low commission

Cryptocurrency has big potential to change society and enrich our lives.