This month, I will touch upon two topics that are very much the buzz – fake news and cryptocurrencies.
The rise of social networks has given many people a voice. While for the larger part, this is a very good thing, there are a significant number of mischief mongers who use the speed and reach of the internet to spread all kinds of fake news and rumors. Some of this is entirely harmless but the malicious ones are growing in leaps and bounds. Whether it is to discredit a business competitor or political opponent or even entire communities, the number of such posts is increasing every day. Then there are those supposedly well-meaning posts claiming to cure diseases with no known cure, warning about bridge collapses and flooded roads, informing about the death of some celebrity and other such things only to be proven wrong later. My advice to all is that everything needs to be cross checked before taking any action based on such news.
The second topic is crypto-currencies which may or may not be closely linked to the first one. When last checked, the value of a single bitcoin had risen from about USD 23/- in 2013 to USD 10,000/- today and at the rate at which it’s going could reach USD 15,000/- by the time you read this. Of course, anything that rises so fast can fall even faster. But the fact remains that it has yielded close to 50,000% returns in less than 5 years. As of now it definitely seems to be the strongest currency in the world. Only time will tell whether it will continue to do so.