Can one imagine one’s paycheck in Bitcoins? This is what cryptocurrency will be all about. Financial transactions will indeed undergo a revolution and these practices will be incorporated in the financial transactions.
Coming generations might do without bank accounts in order to secure, peer-to-peer cryptocurrency transactions.
Four Cryptocurrency Future:
What are the possibilities?
- The Federal Reserve could issue its own digital currency, as some global central banks are exploring.
- Large company set-ups such as Amazon, Walmart and Starbucks might be able to issue digital coins that will inspire trust and gain wide acceptance.
- Retail giants, by being able to accept payments in the currency, could elevate Bitcoin, Ethereum or another cryptocurrency above the others do vie to offer safety, soundness as well as utility.
- Finally, if trust is lost in government-backed, or fiat, currencies, a cryptocurrency future could come about by default.
Role of Central Banks vis-à-vis future Of Cryptocurrency
People can keep some crypto cash in digital wallets, with other liquid assets in mutual funds, stocks and government bonds. A central-bank cryptocurrency could boost GDP by 3%. Central bank crypto dollars do endanger the economically and socially important financial intermediation function of commercial banks.
Bitcoin Crash Or Cryptocurrency Revolution?
The cryptocurrency future will much depend rather heavily on government. That could mean regulation.
Amazon, Cryptocurrency Kingmaker — Or Central Bank?
Cryptocurrency would be a trusted store of value as well as a useful medium of exchange. Role of trust is very essential.
Cryptocurrency Future: Competition for Central Bank Fiat Money
Bitcoin’s peer-to-peer electronic payment system which was first proposed in 2008 in order to verify transactions through a decentralized public blockchain, did arrive on the scene. It has made a tremendous impact on the market.
