Cryptocurrencies and the blockchain:
Cryptocurrencies have shown a tremendous advance in a very short period of time. Regardless of whether you think that this will take over the banking system or that it will be an expansion of it, there are several possibilities that are increasingly becoming more popular. Payments, payment methods, but also complete blockchain applications that make the Internet of Things possible. Blockchain and cryptocurrencies are literally everywhere
On an international level, however, we are seeing an increasing number of collaborations. Not only do developers use the blockchain more often to set up and test new applications, the cryptocurrencies are also used more and more often. As a token within a platform itself, as a means of exchange and as a payment unit. And that makes cryptocurrencies an interesting option when you want to invest your savings.
How important will cryptocurrencies be in the future? At the beginning of the era of digital money, supporters and opponents regularly got into each other’s hair. Supporters predicted a world in which cryptocurrencies would squeeze the fiat money out of the market. Opponents predicted mafia practices with complete anarchy and everyone would lose their money.
We now know that neither of these scenarios will be the case. What we also know is that cryptocurrencies and blockchain make many things possible that were excluded in the past. Like contributing to the UN’s sustainable development objectives(SDG), the reorganization of renewable energy, but also the sharing of big data or cross-border payments without huge costs. And we are still at the dawn of it, because the first real world applications are only now really being set up.
Cryptocurrencies are here to stay. That is why Asian countries have started to regulate and accept blockchain applications and that is why banks all over the world have started to work together with providers such as Ripple (XRP) and IBM/Stellar(XLM).