While cryptocurrencies are still new to the general public, most savvy investors understand that digital currency trading has been a cornerstone of the global economy for decades. No national currency has been directly tied to physical assets since the decoupling of the US dollar from the gold standard in 1971.
Currencies, both the fiat and crypto variety, live online as digital transactions in the form of asset purchases, currency exchanges and individual transfers of funds. Their value is derived from their own supply and demand; speculating on their future value is a strategy that has built wealth for many investors.
The key differences between fiat and cryptocurrencies are their inherent utility, distribution and storage infrastructure, privacy and transparency. Cryptologists have been trying to develop decentralized currencies for decades but failed because they were unable to decouple from fiat currency. Satoshi Nakamoto solved this problem with the creation of the Bitcoin peer-to-peer electronic cash system.
The basic premise is simple yet profound: Over the last few thousand years, governments and banks had a monopoly on the supply, flow, ownership and value of money. With the emergence of bitcoin and other cryptocurrencies, money supply is now fixed by the network. The flow and ownership of money resides with the people. And the value of money is shaped by the market.
People created banks originally to help store physical gold. Banks would then issue their clients a paper-based ‘proof of asset ownership’; far more convenient than lugging around gold bars or coins. Today, the blockchain has proven to be one of the most reliable methods of storing and sending ‘proof of asset ownership.’ Millions of people are building new paths to trusted transactions through cryptocurrency and smart contracts that have the potential to replace outmoded institutions. Just as trading in shells and pelts is no longer necessary.
Graph by Statista: total crowdfunding volume worldwide from 2012–2015
Since the stock market crash of 2008, investors have been looking for alternative ways to invest as a way to spread risk and take advantage of higher returns. In the US in 2017, H.R. 1219, the Supporting America’s Innovators Act of 2017 (aka the “Jobs Act”) made it possible for the middle class to invest directly into company startups through equity-based crowdfunding resulting in the creation of a $13 billion market in less than a year. At the same time, cryptocurrency investments grew through a wider base of contributors than ever before. As payments become more widespread with cryptocurrency, investment will likely continue to increase making cryptocurrency a part of investment portfolios and payment systems.
NYNJA’s ICO, which launches June 15th, lends itself to this more efficient method, both because it is one of the few products in the final stages of development and because it is built specifically to capitalize on advantages driven by blockchain technology.
Unlike many of the ICOs on the market, there are no hurdles for true growth for NYNJA. It is a virtual operating system (vOS) on the blockchain that can work on any device and has a communications layer and a marketplace layer. Its communications layer does not require a significant user base to be relevant and can be used as a turnkey solution for communications. Its Uber-like on-demand marketplace will allow users to instantly buy and sell goods and services with NYNJAcoin, and its built-in multi-currency wallet will be able to hold Bitcoin, Ethereum, NYNJAcoin and other ERC20 compatible tokens. No longer will users need WeChat, Zoom, Fiverr and PayPal to complete a project. NYNJA incorporates all the functionality of those services within a single easy-to-use platform.
Tools like NYNJA are rare because they give cryptocurrency utility and purpose, and have the potential to solve real productivity problems in a decentralized, private and global way that has never been accessible before. Early-adopters know to look for innovation, and cryptocurrency is one of the hallmarks of an early revolution. Investors, builders, dreamers and prospectors alike are building the wave of human interaction and transaction through blockchain and cryptocurrency platform made possible exclusively by NYNJA.