The growth of the digital economy
The growth of digital economy triggers swift development of cryptocurrency systems.
Despite seemingly negative trends (such as banning of ICO in China and Southern Korea) on a large scale most of the developed national states are on the lookout for the cryptocurrency market. In Japan, for example, cryptocurrencies de-facto have a status of currencies, so that people can use bitcoins to pay for goods or services.
Even the simplest facts presented in figures speak to the positive future of blockchain. At present there’s about a thousand of cryptocurrencies in the world (unfortunately, the exact number is unknown, since the market situation is changing literally every day).
The total value of the Forex market is estimated by experts to be $5 trillion, while the value of the cryptocurrency market according to certain estimations reaches $500 billion (with average monthly growth by 3%).
Many experts note that the investors still do not completely and seriously realize the prospects of cryptocurrencies. According to John Mattison - the former executive director of the Bitcoin Foundation, many private investors ignore bitcoin until its cost exceeds 10.000 USD. It should be mentioned that according to estimations of those who have already invested into cryptocurrencies, this threshold is pretty much attainable in the upcoming 8-10 months.
Ray Youssef – the CEO of Paxful project is very enthusiastic about the future of cryptocurrencies. In this light he points at a number of challenges in the purchase of tokens and options as to how they can be used in everyday life of an ordinary person. First and foremost this has to do with underdeveloped infrastructure, especially in the states and regions where the banking system is not strongly developed up to this day. Youssef believes that the situation can be fixed by the creation of top-quality, user-friendly apps, operating in the system of P2P interaction.
Tim Frost – the founder and permanent leader of Taurus Vision, shares this opinion. He also claims that bitcoin helps avoiding losses and risks, associated with national currencies.
It’s interesting to know that presently the risks, associated with duciary money are discussed by young people, who have already realized the benefits of cryptocurrencies.
According to the research, carried out by the joint efforts of MasterCard and Facebook, the overwhelming majority of youth (92%) has little trust in the existing banking system, opting for advanced finntech-solutions in day-to-day life.
With this regard it can be stated that the technologies, that give ordinary people a chance to use tokens in their everyday life, will set the wheels of the development of cryptocurrencies. Thus we will embark on a new era of digital Eden once ordinary people get a chance to pay bitcoins in supermarkets, private shops and markets.
We present to consideration the blockchain technology, which draws this time closer and closer.
It’s Bpay.io.
Our official site: https://www.bpay.io
White Paper: https://www.bpay.io/en-whitepaper.pdf