The development and growth of blockchain technology and cryptocurrency has been immense since its invention over a decade ago. Different countries are already adopting blockchain and cryptocurrency technology and benefiting from the vast number of benefits and advantages that blockchain technology and cryptocurrency have to offer. I will be using France as a subject matter as in my opinion, the development of cryptocurrency in France is quite high.
France is a European country with a lot of users exposed to blockchain and cryptocurrency. This means that there is a higher adoption here because of the number of people that are exposed to blockchain and cryptocurrency technology. There are a lot of businesses here that accept cryptocurrency like bitcoin, litecoin, dash, tron as a form of payment. In France, there are private businesses where anyone can purchase goods or services using only cryptocurrency.
This is great because I don’t need to exchange my cryptocurrency to fiat before I can spend the cryptocurrency to purchase goods or services. However, cryptocurrency is still growing which means that adoption isn’t fully developed yet, even though that cryptocurrency can be spent here, there are still a lot of people that don’t know about cryptocurrency or haven’t used any cryptocurrency[.](https://steemit.com/hive-175254/@designieplay/development-and-growth-of-blockchain-technology-and-cryptocurrency-and-reasons-supporting-the-transparency-of-cryptocurrency) As adoption continues to grow and spread, more and more people will begin to use cryptocurrency for day to day transactions and sending of money from one place to another.
Cryptocurrency is growing at a rapid rate and has shown to offer a lot of benefits compared to the conventional financial system. The benefits of blockchain technology play a huge role in the adoption of cryptocurrency as people are looking for effective ways to solve some of the problems of the conventional financial system[.](https://steemit.com/hive-108451/@designieplay/crypto-academy-season-2-week-6-learn-about-cryptocurrency-by-levycore) When it comes to development of cryptocurrency in France, it is going on well as there are a lot of people here who know about cryptocurrency and are making use of blockchain technology and cryptocurrency.
As Blockchain Technology and Cryptocurrency continues to grow and expand in different countries, some of the Reasons supporting the transparency of cryptocurrency transactions are;
##### Authenticity of transaction records
Authenticity of transaction records is very important. Cryptocurrency transaction runs on the blockchain which shows the authenticity of the transaction records because the records are immutable and cannot be modified. Once the transaction is sent to the blockchain network, the records become immutable and can never be changed or modified.
##### By Peer-to-Peer transactions
Under the conventional financial system, before money is sent from one place to another, it has to pass through different third parties or departments for approval or processing which removes transparency. Peer-to-peer transactions promotes transparency because there no interference of third parties and the direct transactions can be verified on the blockchain.
##### By users having records stored on the blockchain
There is no transparency when it comes to money in the bank. No one can know or verify how much money is in circulation. Because users have full control of their funds in the wallet stored on the blockchain, anyone can see how much is in circulation and addresses that holds largest amount of coins. This increases the transparency and can help users in making investment decisions. No one want to invest in a coin that the majority is owned by one address.
##### By everyone having equal rights in the system
A huge benefits of decentralization is that it gives everyone equal rights in the system to make the rules and decisions in the system. This means that any decision made can be verified through the blockchain and anyone can have access to any information and data stored on the blockchain.
