Let’s be frank here. What is the real potential of cryptocurrencies? I mean, in general. More and more people ask that question every day. And with a good reason. There’s more buzz and talk around the subject than ever before. So, let’s have a closer look.
How many times per day do you hear the word cryptocurrency, the blockchain, Bitcoin or the technology of the 21st century? A lot, I’m sure. It’s crystal clear where the world is heading. And that, my friends, is a shift in the financial system. We’ve mentioned in a couple of our last blogs that the world requires a new and enhanced system enabling us to transfer money both nationally and internationally. Furthermore, to do it instantly and with almost no cost, plus being secure to the max at the same time.
Are you amongst millions of modern people?
It is believed, but not yet confirmed, that more than 35 million people (!) own cryptocurrency. Additionally, there are approximately a couple of hundred thousand merchants accepting cryptocurrency. By the way, these numbers are growing daily, and it is believed by the year 2030, 90 percent of the population is holding, has used or knows someone who owns cryptocurrency. Wow, that’s impressive. And, at the same time, it makes me feel less anxious about the future of the world. How about you?
The sad reality is that the potential of cryptocurrency is held back by the trust. Trust in cryptocurrencies and new technology is low. People just aren’t on board yet. But hey, it’s like that with every groundbreaking technological shift. People usually need time to adapt and to create trust. There are still people in the world who can have a bank account, use a debit or credit card and have access to online banking, but they decide not to.
It’s because they feel more familiar and secure with the options they had in their childhood. Therefore they prefer cash. But the sad things is that there are more and more merchants who do not accept cash anymore. It’s a dying form of pay.
This time, the young ones lead by example
Grand old man of psychology, Sigmund Freud has once said: “If youth knew, if age could.” Well, in this case, it’s all good. The young do know. And they will. The new generation will be the frontrunner in creating trust in digital money and in adapting to the everyday use of cryptocurrencies.
So, the potential of cryptocurrency is to change the perspective and understanding of banking. Or ‒ what it could be, and what is the true essence of it. Imagine a world where sending money to someone is as quick as sending an email. And it’s also safe and secure. Imagine a world where your wallet is your phone, and whenever you’re paying for goods or services, the merchants will receive the payment instantly.
Changing the financial system can initiate growth in other substantial developments in various sectors. How come you ask? Well, it’s because of the movement of money, and doing business is much faster and more natural that way. Sounds fascinating? Get in contact and let’s talk some more!