Why Cryptocurrency Matters? Part I

Why Cryptocurrency Matters?
Cryptocurrencies are held in cryptographic wallets identified by a publicly accessible address, and is secured by a very strong privately held password, called the private key.
This private key cryptographically signs transaction and is virtually impossible to create fraudulent signatures.
This provides security and unseizability. Unlike traditional bank accounts that can be seized by government authorities, the cryptocurrency in your wallet can never be taken away by anyone without your private key.
Cryptocurrencies are censorship resistant due to the decentralized nature because anyone can submit transactions to any computer in the network to get recorded and validated.
Cryptocurrency transactions are immutable because each block of transactions represents a cryptographic proof (a hash) of all the previous blocks that existed before that.
Once someone sends you money, they cannot steal back their payment to you (i.e., No Bouncing Checks In Blockchain).
Some of the cryptocurrencies can even support atomic transactions. "Smart contracts" built atop these cryptocurrencies do not merely rely on law for enforcement, but directly enforced through publicly auditable code, which make them trustless and can potentially get rid of middlemen in many businesses, e.g. Escrow for real estate. WP