Future of cryptocurrency
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The Future of Cryptocurrency:
3 Industry Experts Views:
Cryptocurrency has gained quite a bit of attention recently, but what exactly are digital coins and why are they gaining so much value? You might also be wondering if it’s too late to invest in digital currency or if there’s any hope of making money by purchasing cryptocurrency now. To get answers to these questions and more, we reached out to three industry experts with experience in cryptocurrency. Here’s what they had to say about the future of cryptocurrency and its impact on the world economy.
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1) Tom Shaughnessy.......
Founder and CEO of C3 Crypto
I think the future of cryptocurrency is very bright. I believe that we are still in the early stages of adoption, and as more people learn about cryptocurrency and how it works, they will begin to see its potential. Many who may not be able to afford crypto now can get involved by mining or earning through airdrops. I am confident that there is a huge opportunity for this technology and many more exciting things to come! John Reese, CEO of Reese Venture Capital: The key question on everyone's mind is what's next? It’s too soon to tell what the next wave of innovation will be but it's safe to say blockchain has been an incredible innovation so far. One major theme that has emerged from 2019 so far is security tokens which have become easier to access and trade. Companies such as Polymath and SharesPost offer companies the ability to easily tokenize their assets.
A second emerging trend has been social media platforms exploring cryptocurrencies with rewards programs. These platforms like StormX incentivize users with crypto tokens for completing tasks such as watching videos or playing games.
Finally, governments around the world are coming up with regulatory frameworks to better support cryptocurrency innovations within their borders.
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2) Ravi Menon....
Monetary Authority of Singapore
Cryptocurrencies are here to stay. But their future is not about displacing central banks or fiat currencies. It is about becoming an asset class in its own right. It is also a question of when, not if, we will see wider adoption. The benefits that come with the technology behind cryptocurrencies cannot be ignored forever. People are already more comfortable than ever with the idea of making payments digitally and there's nothing stopping cryptocurrency from being another payment option alongside cards and cash. I think it will eventually become an accepted currency all over the world, but at this point it’s still very volatile so nobody can predict for sure how long it will take. There are some really smart people working on crypto projects, but ultimately these types of things can only work out well if everyone buys into them collectively.
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3) Joseph Borg ..
Malta’s Virtual Financial Assets Act
The cryptocurrency industry is still in its infancy, but that doesn’t mean we can’t speculate about its future. Here, three industry experts weigh in on what they think the future of cryptocurrency holds. Joseph Borg believes that the success of bitcoin will depend on the number of retailers and consumers who are willing to use it. Bitcoin has had a strong first mover advantage so far, but there may be room for other currencies to emerge as long as their acceptance becomes universal, he says. Tuna Pardin also thinks bitcoin will continue to grow in popularity for a few reasons: 1) it's decentralized nature 2) it's price volatility and 3) it's network effect. His only worry? If governments begin regulating cryptocurrencies more heavily or start banning them altogether. If you want something that is completely unregulated, then cryptocurrency might be your answer, Borg said. If you want something regulated and verified by government authorities then I would say that tokenized securities might offer an alternative.
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