Why are cryptos going to change the world?
Do you know why cryptos are going to change the world? Since their first appearance in the market, cryptos have always been subject to controversy and debates. Although they had long been considered no more than a scam, these coins are constantly evolving and experiencing success from all around the world.
In this article, you will read five reasons why these new currencies will become dominant in the future.
While wires or bank-to-bank transfers are becoming faster and performing better year after year, there’s still a lot to do. In fact, some transfers (especially the international ones) require a week or longer to be deposited. With cryptocurrencies the process is much faster.
It doesn’t require all the checks that banks are accustomed to doing. A cryptocurrency transfer happens immediately, doesn’t require any fees, and is visible in the blockchain for anyone to see.
When an entrepreneur wants to start a new project, he has to raise money. Crowdfunding is one of the most popular ways in which he can find funds to start realizing his dream. In the crypto world ICO (Initial Coin Offering) has the same purpose of traditional crowdfunding.
During an ICO campaign, supporters of a project purchase some of the projects’ tokens by giving fiat currency or digital coins. These currencies can be related to the shares of a company that are sold to investors during an IPO.
Human beings have made a lot of scientific advancements in the last 100 years alone, but critical information has always been concealed from the general public. Cryptocurrencies and blockchain technology can help provide access to real-time data for everyone, thus removing all those who keep secret certain information, from foundations to institutions to large corporations. Blockchain technology can allow the creation of a platform on which every person will take part, giving his help in order for scientific progress to continue.
When it comes to money, fraud is one of the first issues that come to mind. In fact, the risk of fraud can occur every time you use a credit card to transfer funds on a site deemed unsafe. Cryptocurrencies can operate to reduce this risk. Think about the lack of anonymity due to the very nature of blockchain systems: they are public databases, and all crypto transactions are traceable.
Today, the number of companies following illegal practices is particularly high, and people want to be assured that the companies they buy their products from are trusted and follow the law.
