Creative design thanks to Canva
I can't wait for the day when crypto is as accessible and easy to send as Venmo in the USA, Paypal all over the world, Payoneer, Gcash, and any digital/online wallet that's created for the purpose of convenience. Imagine a time when you can send and receive crypto via QR codes, mobile numbers, or even just create your own unique username you come up with. Imagine what crypto will do when these things are laid out in the future.
There's no doubt what crypto can do in all sectors of our economy. With the quality of technologies, cryptocurrency is providing, like payment systems. Technologies like smart contracts, online storage, Decentralized Finance (DeFi), lending platforms, the future of gaming, NFTs, music, and many more you can ever imagine. Imagine these things come in handy available to the public.
When a user can buy Bitcoin or USDT by sending USD to a certain wallet. Same as receiving crypto by just sending them your unique username. What's more, when you want to buy street food in the street by just scanning their placed QR code and you use Hive as a payment. The technology will then automatically swap Hive to USD if dollars is the target of the vendor to avoid price volatility meaning once a user sends a certain crypto, the backend will then automatically convert it into USD (USDC, USDT, BUSD).
Photo source: Beaconstac.com
When the beauty of crypto reaches retail without any inconvenience, I can't imagine how beautiful life is than before. I agree that these technologies have been developed now, what more if cryptocurrency can successfully deploy these kinds of features. I think that time will come a few years from now and these altcoins that have been tested will skyrocket in price.
Bitcoin at $24k?
How is it even happening? Just when Silicon Valley Bank, the 16th largest bank in the world, collapsed and we're seeing Bitcoin hitting another high at $24k? I thought everyone is in FUD, everyone is panic selling? We know that SVB is one of the banks that are crypto-friendly and no matter how you view it, SVB has an effect and relationship with crypto.
The biggest flex right now is that crypto is too strong to break. With just SVB closure, bitcoin isn't that small enough to struggle. We've learned from all of the lessons 2014, 2018, and 2012 bubbles and we're almost reaching to the point where cleansing is almost there to be close to 100%.
Posted Using LeoFinance Beta
I'll be happy to see it replace SWIFT. That was a NIGHTMARE to deal with when I was planning my trip to Europe in 2017.
Posted Using LeoFinance Beta
Hah! Considering Hive-Backed dollars has now one to three mechanisms to maintain their peg, with its fee-less blockchain, I'm optimistic we are the leading blockchain to attract the masses.
The problem is just the liquidity. We need billions of HBD liquid for the market or else it will break its peg value.
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It's starting to happen. Just look at places like El Salvador, Venezuela, and South-east asia. Adoption is picking up pace !
I agree with you and it's only a matter of time when first-world countries accept this.