Now that the dust has settled from bitcoin's revolutionary split into two diverging currencies, economists, investors, and financial analysts alike are finally in a position to reevaluate the future of cryptocurrency's future outlook. This says nothing of Ethereum, Monero, and other fledgling projects whose rapid adoption further fuels global confidence. Given the continued success of bitcoin and the rapid rise of the new bitcoin cash, arguments that cryptocurrency is merely another blip in a long string of tech bubbles is no longer a viable argument.
With that in mind, 2017 marks a clear point in cryptocurrency history in terms of establishing what role this medium of exchange will play in shaping the future of global economic interactions and internet commerce as a whole. This isn't mere idealism; rather, cryptocurrency's future outlook is merely a question of scale. In other words, to determine cryptocurrency's progression, one need only look to its current successes and extend them to the international community.
E-Commerce and Transaction Safety
It's self-evident that bitcoin and other digital currencies have more or less solved the difficulties once thought inherent to online transactions. Transaction fraud is a significant threat to online payments and as brick-and-mortar stores become more obsolete in the face of e-commerce, finding solutions to this issue is essential for both commercial survival and customer confidence. The distributed nature of digital currency data effectively negates this problem. Individuals ultimately form the bedrock upon which economic systems thrive and cryptocurrency possesses the necessary features to foster both the accessibility and confidence needed for widespread adoption.
National currencies hinge on centralization for value, making them vulnerable to intrusions that digital currencies simply are not. The fact that traditional currencies pass through bank accounts which are in turn linked to debit and credit cards along with Paypal and other third-party management systems only adds to the list of places vulnerable to attack and fraudulent use.
While digital currencies are distributed, they ultimately boil down to a single blockchain, essentially giving them all the advantages of distribution without any of the setbacks. In that sense, cryptocurrency is the ideal mode of securing online transactions by effectively placing the responsibility for security directly in the hands of the community, rather than outside parties.
Cryptocurrency and the Global Community
Regional currencies are an unfortunate holdover of the rampant nationalism that plagued the 20th century. With the world rapidly moving towards broader inclusiveness, it's undeniable that a broad system of exchange that reflects this new perspective is necessary.
Uncoupled from national interests, the volatility of regional economics or politics, and other innately unpredictable factors, cryptocurrencies perfectly meet the needs of a global community that transcends these dying idiosyncratic qualities that form much of the baggage left over from outmoded nation-states.
Cryptocurrencies draw value directly from investor and market activity, thereby obviating any dependence on local interests. This gives individual users equal standing and spending power regardless of geography, a condition clearly needed for true global togetherness. Digital currencies transcend national lines, opening up new opportunities for investors to inject much needed vitality into nations previously inaccessible because of this currency divide. This investment will inevitably lead to benefiting nations transitioning to these same cryptocurrencies, scaling them to the point where digital currency will by necessity be the money of the future.
Crypto currency will replace fiat in a few years.
I think cryptocurrency will b the future. It makes sense to invest in future rather following the old system that will get obsolete. With so many cryptocurrency options how do u focus on good project. Like bitcoin and ethereum will do good. But there are some good icos out there like ongcoin tenx neo enigma. What is ur view on that
Definitely check out https://www.ongcoin.io, so much possibilities with that one!
there is more global debt than GDP! fiat currencies are doomed to fail. cryptos will take over!
cryptocurrencies are soon going to change the economies of world...!!!!!!!!!!
Coins and paper money are history. In the new reality, currency will consist of only digital series of letters and numbers, or 'cryptocurrency'. Soon, there will be no more banks. At least, this is what some would have us believe
Fiat currencies are doomed to fail from the beginning. I believe Switzerland's currency will be the only one to survive in the end as physical tender.
Surely they will dominate the financial markets in future
Interesting post on the future of cryptocurrency. With cryptos gaining popularity and funding, I believe these last few months of the year will be monumental for the future of digital currency. Thank you for sharing @simonjones
Thought, it is important to share in here. Some serious pumping is going on!
Coinbase is expected to support the Bitcoin Cash in early 2018.
Blockchain.info is now supporting Ethereum!
Great analysis. Analytic skills like this not many people have. Only certain people can do it. thank you
I really enjoyed your post, thank you for sharing with us. Enjoy the vote!
I hope steem also pump after the dust completely settled and economist will broadcast these future of money. I wish wish investor will look
@simonjones
Post very interesting
very informative
Especially these days
thanks
@geemo-from-paris
I enjoyed reading this article. Thank you for sharing.
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