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In the digital age we live in, change is occurring at lightning speed. Everything is going digital and that includes money. Cryptocurrency is revolutionising the way we invest, trade and pay for goods and services. The exciting thing about this is that we’re only just beginning to see it’s real potential. Here are a few ways that crypto will continue to change our lives in the future.
1. No single point of failure
We’re entering a movement of decentralisation in our marketplace that’s going to completely disrupt the economy as we know it today. We need to start thinking about how the new economic world will operate once middlemen are removed entirely. This could result in huge efficiencies and the eradication of bribery on a global scale. Blockchain technology is powerful in that it enables validation of transactions and also smart contracts. As a result, we’re slowly seeing single points of failure being removed and replaced by blockchain technology that validates all economic transactions. This is why we’re seeing more people utilise exchange platforms such as 10CFDs, where they can trade crypto with a global marketplace of traders.
2. Wealth will be redistributed
The reality is that for billions of people globally, the current money system we’re a part of simply doesn’t work for them. In countries where hyperinflation is a serious issue, crypto currency is seen as a way around it. In countries where corruption is the norm, crypto offers a haven where they can store, trade and accumulate wealth without worries of inflation or corrupt governments taking it away from them. When these individuals become educated on the power of crypto, we’ll likely see a major redistribution of wealth globally.
3. Peer to peer money
Peer to peer decentralised trading of crypto will inevitably bring freedom from the control of third-party institutions. This is why traders inevitably are drawn towards exchange platforms such as 10CFDs, to escape the regulations enforced by traditional banks. People will be empowered to essentially become their own bank, having total control over their assets without fear of third-party intervention. There will be issues such as crypto inheritance and wallet address recovery that will need to be addressed, but overall the future is bright.
These three examples are only touching the surface regarding the potential of crypto to change our lives. If you want to learn more and are interested in trading crypto, head over to 10CFDs and kick start your trading journey today.