Money makes the world go round –
and it’s in its greatest period of change yet
The world has been rocked, transformed and transitioned by cryptocurrency,
and the rise and rise of success stories where millionaires have been made literally overnight.
Yet for many, the realm of cryptocurrency remains a mystical one
Here we take a brief look at how money, in a wider sense, has developed over the most recent years
– and how, for the brave few, cryptocurrency presents opportunity and incredible solutions in equal measure.
Never ending money reserves (or not, as the financial crisis has shown)
Our financial markets are still steadying after the world’s worst financial crisis.
Brought about by lenders providing mortgages to those who could ill-afford their repayments,
almost every country in the world felt the effects that this would ultimately bring.
Many governments rushed to print off money in order to stimulate the economy –
something that had little to no positive effect whatsoever. In the US alone, the stimulus package cost $2.8 trillion (CNN Money), whilst in the UK, the £200 billion package had an underwhelming effect on the UK’s turbulent markets.
Transparency – or lack thereof
The defining differences between traditional finance and the world of cryptocurrency lies in transparency. We need only look in our newspapers to see just how shady the world of banking and investment can be. Digital currency, by comparison, offers complete transparency,
largely because it is free from ties to any bank, or any country.
It also allows for direct transactions (without the need for institutional intervention)
between people – no matter where they are in the world. In this way, borders also fall down – fluctuating market currency values then become a thing of the past, arguably presenting a more stable future for what is now a truly global economy.
Unbanked people – overlooked, until now
Brick and mortar banks are a preserve of the first world. Whilst in countries in Europe
and over in the US we take such high street institutions for granted, there are 2.2 billion people
in the world with any banking facility at all – which equates to 40% of the globe’s populous.
This then makes the case for digital currencies all the stronger.
Economies where there’s a lack of banking
(such as select countries in Asia, Africa and Mexico),
may finally look forward to being able to buy and bank online –
requiring only an internet connection.
A limited amount of money
Supply and demand is an age-old business concept. Yet it’s not applicable in the world of currency,
or atleast it hasn’t been, until now. Cryptocurrency is based entirely on supply and demand –
as demand has grown for those seeking out this innovative form of finance, so too has the value of
cryptocurrencies risen. This is the clearest indication of two things: first, where traditional money
systems have problems, cryptocurrencies have the solution. Second that the future for cryptocurrency,
and those who value it today, looks increasingly bright.
Discover the tomorrow of money – consider the potential of cryptocurrency today
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