Could Cryptocurrency possibly replace the need of a Fiat?

Could Cryptocurrency possibly replace the need of a Fiat?

Could Cryptocurrency possibly replace the need of a Fiat?

Photography Credit: Andre Francois

We are living in a digital era. In other words, digital technologies are being used to make the life easy for people who live out there in the world. Along with the technological development, the way how people make financial transactions has also changed. In fact, people prefer to use Cryptocurrencies instead of traditional currencies.

Along with the increasing popularity of Cryptocurrencies, you would wonder whether are they are in a position to replace the need to have flat money in today’s world. Let’s deep dive and figure out the truth.

Here are few methods that indicate how cryptocurrency can replace the need to have flat money…

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8 things where Cryptocurrency helps to do things better than Fiat Money

8 things where Cryptocurrency helps to do things better than Fiat Money

8 things where Cryptocurrency helps to do things better than Fiat Money

Photography Credit:  Sam Truong Dan

Introduction

Popularity of Cryptocurrency is increasing on a daily basis. The ability of these currencies to get work done has contributed a lot towards its popularity. In fact, people will be able to use Cryptocurrencies to resolve issues, which cannot be done with the usage of flat money.

Make Donations to Causes 

You would come across the need to support causes, which are not approved by the government. In such instances, you can think about Cryptocurrencies. WikiLeaks can be considered as a perfect example to prove the above mentioned fact. Back in 2011, people were restricted from donating money to WikiLeaks. As a result, they could not make any contributions through PayPal or Credit Cards. “Satoshi Nakamoto”, who is the creator of Blockchain, figured it out and he took necessary measures to assist people make their donations to WikiLeaks. Defense donations fund, which was raised in favor of Edward Snowden can also be considered as a perfect example to prove the above mentioned fact. Likewise, you would come across different donations that are not supported by government and you will be able to make legal contributions to them with the assistance of Cryptocurrency.

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The Future Of UnBanked Population In The Finance Industry

The Future Of UnBanked Population In The Finance Industry

The Future Of UnBanked Population In The Finance Industry

Photography Credit:  rawpixel

At around 1.3 billion, the number of credit card holders aren’t even close to 20% of world population. An alternative is required to saturate the remaining 80% with Lines of Credit (LoC), global market connect and liquidity. However, the poor and aspiring folks find it particularly hard to get banking finance for their undertakings, owing to clandestine racial, political and administrative prejudices.

Stable cryptocurrencies can go a long way for cementing that gap. These cryptocurrencies can hedge a deprived entrepreneur’s engagements against value fluctuations, accounting & legal aspects, arranging collaterals for securing credit, etc. It would greatly help to bring the unbanked into mainstream economy as it’s the SMEs that majorly help in uplifting the deprived populace and drive the global economy in general.

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The Modern Era Digital Money vs The Old Fashioned Fiat

The Modern Era Digital Money vs The Old Fashioned Fiat

The Modern Era Digital Money vs The Old Fashioned Fiat

Photo Credit: Artem Bali

Cryptocurrencies’ market capitalisation of around $500 billion is still small compared to the $1 trillion bourses dealt by each of the major 19 stock exchanges. The speculations of price fluctuations further erode their base. Even though cryptos haven’t yet tapped even 1% of the 40% unbanked population of the world, it’s currently using more power than the per annum electricity consumption of some third world countries. The carbon footprint of a single crypto transaction is nearly same as 0.5 million VISA transactions.

Although privacy and decentralization are some major benefits of cryptos, the fiat currency scores over them in mass appeal and ease of…

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BchainNews: What follows the major CryptoCurrency market storm after April into May….

BchainNews: What follows the major CryptoCurrency market storm after April into May….

A market correction continues after the stormy April.
The overall trend for many AltCoins remains bullish: There are a lot of releases!
– Source: Bchain Crypto News Blog (Telegram)

Here are the updates: Launching of the ICON platform, demonstrating TRIG test network, launching the main TRON network and ARAGON, there is a lot of updates from WALTONCHAIN. Also a lot of interesting things for the other coins, conferences, hardcore and free distribution. On such bullish trend, such a stormy flow of news works (impacts) well.

Despite the fact that the Ethereum can be attributed to securities, it still continues in a bullish path. By the way, this news could speed up today’s price correction. We can already observe how public media talks about this topic, as well as, started to publish not very good opinions of some Wall Street analysts, including Buffett himself. Apparently, someone did not have time to jump on the train, and decided to slow down the rails (bring the price down using news or fake news in order to catch the lower price entry). Regardless, thats a common thing to see a certain correction after a bullish period/s.

From the positive news, the Bank of Korea announced its interest in launching a digital currency. Active research in this area is already being conducted by the central banks of China, Singapore, Sweden and Japan.

Goldman Sachs also plans to start trading Bitcoin futures on behalf of its customers within a week. This is mega-positive news, which has not yet fully completed its movement on the chart. Recall in 2017, after the announcement of the launch of futures Bitcoin rose from $ 6,500 to $ 8,000. But then, on the same news, we saw an acceleration of growth to $ 20,000 and a green market of AltCoins. In the summer of the G20, will discuss the regulation of the crypt markets, perhaps this may be creating an impact on the market, be aware of this please.

Source: Bchain News @ Telegram Blog [View]