Will cryptocurrency be the future?
As we know blockchain technology can be used in many different cases. Right now it’s the matter of our imagination to imagine, what can be achieved through the blockchain in medicine, entertainment business, the music industry and so on. Certain things may be solved through the blockchain which shows even right now, a considerable advantage compared to Fiat money:
- Fiat money is very inflation-prone, and history shows that when there’s no cover in gold, there’s inflation.
- The deflationary character of cryptocurrency, we know from the beginning total amount of cryptocurrency on the market so it can’t be endlessly printed just like fiat currency. We know from an advance supply of such cryptocurrencies like bitcoin.
- Bitcoin can’t be counterfeit unlike gold can be. Bitcoin also can be programmable to serve multiple purposes, fiat money and gold are not designed to do that.
- Fiat money is as portable as the cryptocurrency. What’s make it easy to transport your money easily.
- Possibilities related to using blockchain technology in such as areas as voting systems, AI cars, charity, retail, crowdfunding, and transport. Improving the existing way of these industries, creating whole new quality. Possibilities in using blockchain in various existing already industries are endless.
- Fiat is created by thin air, inflation. Fiat can be destroyed by the click of the button by the governments through the crisis pushing strongly activities block banks accounts.
- Fiat is not as portable as a cryptocurrency. It’s not that easy to travel unnoticeable with a significant amount of money by plane.
- Government regulations can’t stop cryptocurrency, so they are immune to rules and attempts to ban cryptocurrency.
- We can prevent counterfeiting cryptocurrency; any bitcoin wallet can recognise if bitcoin is real or is a forge, taking fiat money it’s not that easy.
Disadvantages of blockchain technology, that may have an impact on the future.
- Right now there is not enough educated talents and skilled people in developing blockchain ecosystem.
- There’s a long way to adopt crypto on a massive scale. Tremendous volatility in price also doesn’t help. You can’t predict the worth of the cryptocurrency, from hour to hour, so large fluctuations are the blockage to make bitcoin and other altcoins widely accepted form of payment.
- No electricity can cause no access to cryptocurrency, but this situation can take place also in case of credit cards or PayPal.
- In the present time, technology doesn’t make server millions and billions of users what doesn’t help establish cryptocurrency as a wide-world served the form of payment.
- There’s a threat of bubble burst in any time right now, so by the time for many people involving in cryptocurrency may be too risky.
Conclusion and attempt to answer, will cryptocurrency be the future?
It’s not the easy task to answer will cryptocurrency be the future.
Right now at the bearish market, we still have minor moods and our faith in bright cryptocurrency future may be a little disturbed but it seems to be transition stage. Simply market tries to decide on the actual intrinsic value of cryptocurrency. Daily volatility moves are not so high as it was a few years ago so that it can be only more stable throughout the time. We are flooded with new projects, which showing us new opportunities and giving faith in the new cryptocurrency world.
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