Benefit of Blockchain, not Bitcoin
The benefit of the blockchain technologies are enormous such that it can remove inefficiencies from legacy financial and insurance industries. i.e. back office functions will not be needed such that the savings can be passed on to people directly without the regulatory and structural burdens.
But bitcoin and other utility coins are not the one which can generate the values by itself. Blockchain based coins must have some sort of function behind it in order to create the value and contribute the society in general. In order to be used as the utility purpose, the coins must have value tied to it instead of just an address which many attempts are made such that these are pegged to gold, fiat currencies, and real estate, etc.
The coins without the value tied to it, even though they claimed that they can improve transaction fee structure globally, still it is the value created by speculative wishes and dreams.
It should be the characteristics of good utility coins that;
- There is an intrinsic value.
- The value should be stable day to day .
- It should not deviate much from current habit of people, especially in financial transactions.
- It should be secure and fast.
LondonCoin meets and exceeds above criterion, and it will have more market cap. than Bitcoin which can not be compared with LondonCoin in the any aspect to become the GOOD digital currency people need soon