Cryptocurrency: Future of Money
Money, a value of financial instrument has undergone a lot of changes over the century. From the use of paper and cheque to Debit and Credit Card and now comes Cryptocurrency.
There have been a lot of questions about the Cryptocurrency like can Cryptocurrency replace our cash completely? Can it replace the world reserve currency – Dollar?
Well, that’s what you will discover in this article. The article is based on a weekly webinar with Abhilekh Verma – a Sales Trainer/Business Coach.
If you prefer, you can watch the video on youtube
Bill gates and other Rich people with a lot of investment in multiple assets believes that the future of money is a digital currency.
Abhilekh according to his research predicted that in the next 5 to 10 years, the adoption of cryptocurrency would be higher. He said, “Things has changed and the adoption rate has increased so I believe that is the future of money.”
Bitcoin ATMs like the one above has been designed and erected in some countries. You don’t need many things to actually operate it, you just need basic knowledge.
All this and more to come are going to change the financial settings.
But why would crypto be our next reserve currency?
With its increasing popularity, Bitcoin users predict that by 2024, almost 94% of different type of bitcoin would be released. We can see different types of Bitcoin, we have the bitcoin itself, bitcoin cash and more underway.
A forecast by Jeremy Liew, Snapchat’s first investor, estimates that bitcoin would hot a staggering price of $500 000 by 2030.
The popularity of this form of currency is expected to grow exponentially, as it is decentralized, safe and anonymous. It is not something that people has control over it.
The fact that a huge section of technology-savvy individuals and companies are favouring the decision of using a different form of encrypted currencies clearly indicates that the future of Bitcoin or cryptocurrencies as a whole is going to be bright.
And why is it considered a Perfect financial instrument.?
Bitcoin, when compared with other Financial instruments, has proven itself to be a financial instrument with the following properties:
- It is a convenient payment instrument
- It serves as a value measure and can accumulate value
- It maintains low support costs and withstands significant market volatility.
- It provides decent scalability and stability
- It supports privacy and decentralization and it would be very hard to hack since it is decentralized
- It is flexible enough to adapt to changing global and local regulations
- It provides transparency for trading and arbitrage transactions.
With this few points and more, do you think Cryptocurrency would withstand the test of time? Let’s hear what you have to say.
And don’t forget to follow us on Facebook and YouTube @ Coinnewsextra for another episode of Market Review and Coin Analysis.
Market Review and Coin Analysis
The webinar “Market Review and Coin analysis” is a weekly program where we analyse the market and review cryptocurrency coin every Thursdays on our official Facebook page at 16:00 GMT.
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- Russia is now developing an AI system to monitor cryptocurrency transactions with prototype now in use. The project is called ” transparent Blockchain” which would monitor transactions on Blockchain.
- Ripple CEO said Ripple would become “the amazon of payments” i.e as amazon is to book, the ripple would be to “payment”.