IMF, Central Banks, UN: 3 Reasons to Invest in Cryptocurrencies NOW!
If the IMF, Central Banks, and United Nations are taking cryptocurrencies seriously, shouldn't you?
Lately there’s been a lot of emotional speculation about Bitcoin and other cryptocurrencies in general.
The news out of Asia has been rough this week- particularly from China and South Korea. Markets went into panic mode during the Chinese New Year; South Korea has threatened to shut down cryptoexchanges, plus it’s now dealing with its own scandal concerning insider trading among government officials.
With such volatility in the young market, where is the future of cryptocurrencies heading?
Here’ my opinion:
There are 3 Reasons Why I’m Investing in Cryptocurrencies NOW:
1. The International Monetary Fund (IMF) is Bracing Itself for Cryptocurrency
On October 5, 2017, Christine Lagarde, Managing Director of the International Monetary Fund (IMF), told participants at a Bank of England conference that Bitcoin and cryptocurrency could possibly displace central banks and disrupt national monetary systems.
Although the risks inherent with cryptocurrencies are very volatile now, Lagarde understands that the current problems with cryptocurrencies can be fixed over time. She also says that it would be unwise to dismiss cryptocurrencies so easily.
2. Central Banks are Experimenting with Blockchain, or Distributed Ledger Technologies
Even the central banks are trying to learn the system. They recognize the benefit of immediate cash-securities transfers, and they also recognize that in countries with more efficient electronic transfer systems such as Sweden, the number of cash and credit card transfers is declining, while cryptocurrency transactions are increasing. Therefore, I expect to see wild volatility. Moreover, just the fact that they are experimenting with new systems validates point 1 above even more.
3. The UN Sees the Value of Blockchain and Wealth Distribution
One of the main goals of the UN’s Agenda 2030 Plan for Sustainable Development is to create a world in which poverty is eliminated by 2030 and in which people have equal access to financial markets.
This is why the news out of South Korea doesn’t bother me. Rather, I just view it as a sideshow to buy more time for the technology to improve and be slowly integrated into mainstream life.
Consider that the UN has high expectations that 2.5 billion people will enter the global financial industry.
Moreover, the UN also realizes blockchain and cryptocurrency technology can enable foreign workers to save some $50 billion (USD) per year when they transfer money across national borders.
If the IMF, Central Banks, and United Nations are taking cryptocurrencies seriously, shouldn't you?
Indeed! but lets wait and see what they do with it. All they want is control so they can continue to collect taxes!
It's funny you mentioned that, because these groups are talking about how the tax structure will work.
@poimenpost, of course they are concerned because at the moment they cant control it and are loosing a lot of money!
That's exactly what I'm thinking, too. They're losing taxpayer money plus they need to build their own nests.
Well, your words are very promising. It's good to read a few optimistic lines, when all cryptos are on a downhill... and our steemit payments are also declining...
Thank you, @ksolymosi. I hope it turns around quickly!
Yes, let's hope for the best!
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