Currently a dramatically increasing number of people desire to integrate cryptocurrencies into their everyday life. Given, that the overall estimated market cap for cryptocurrencies has risen by some 200 million US dollars in the last 3 months alone, this does not come as a surprise.
However, while this wish might seem sensible from economical and usability perspective, crypto holders and users still face too many obstacles.
High volatility of cryptocurrencies
The situation we see today with the major crypto currencies does not resemble any other financial asset class. While many believe in the potential of the blockchain distributed ledger, the volatility of the crypto coins make the majority of traditional investors and financial professionals either cautiously observe this phenomenon from a safe distance, or altogether ignore this asset class for being too risky and uncertain.
„I believe in blockchain. We have developed a private blockchain based system between us and our partners to exchange and store data as well as have all the reference points to track certain transactions. I think it is good for systematising information and there is future in it. The crypto currencies are currently very speculative and more something of a venture capital related asset class than actual alternative of hard currencies. “ — says Larry Fink, chairman and chief executive officer at BlackRock Financial Management Inc.
One of the reasons is that crypto economy remains too isolated from traditional economic structures. This is a major contributing factor to the volatility currently seen in Bitcoin and other cryptocurrencies.
The fact that only a fraction of all the people are involved in cryptocurrencies does not help either.
Combined, these factors undercut cryptocurrencies ability to develop into a stable and well balanced market.
Too speculative?
While there is no need to pass judgement on the benefits and shortcomings that stem from the frenzy of speculation currently surrounding the crypto economy, it is believed that cryptocurrencies are bringing incredible opportunities to replace the outdated banking system.
And the benefits offered greatly outweigh those seen now, when cryptocurrencies are treated purely as tools for speculation. A step forward is needed to bridge the gap and remove the barriers between the crypto economy and traditional money, as this will bring two major benefits to cryptocurrencies. Firstly, it will increase their usefulness for everyday consumers, and secondly it will ensure that Bitcoin and other cryptocurrencies can leave their volatile reality to evolve to pure bred financial asset class that will be trustworthy as well as progressive.
The strategy
TOKIA has things to offer. The solution is simple: combine all the essential blockchain products and services, and integrate them into a single debit card. This is much more than an attempt to merely couple together different elements of the crypto economy. It takes cryptocurrencies into the financial transactions we make every day.
Obscure cash-back programmes or other elements that compromise the soundness of the business model have no place here. The solution of TOKIA is clear-cut and straightforward. The main focus is to maximise the utility of the TOKIA debit card along with other financial services.
In a market swarming with overly complex niche products, ease of use is all it takes to become cutting edge innovative.
With very complex operations and cost structures burdened by overheads, traditional financial service providers put a hefty price tag on inclusion in the global economy. And the result? The poorest in our societies remain poor. Using the current methods employed by traditional banks there is simply no way to include them in the global financial system.
In the short term, TOKIA’s strategy is aimed at increasing the adoption of cryptocurrencies by utilising existing payment infrastructure as a stepping stone. This will initially limit our ability to penetrate the huge potential market that currently lacks access to traditional banking. However, our long term goal remains to overcome this restriction and open up the field of global financial and payment services to the next billion potential customers. This will be possible when the adoption of cryptocurrencies gains the critical mass required for a native crypto-payment industry to become both useful and economically viable.
TOKIA’s ICO with a boom
TOKIA has just started its ICO pre-sale and reached the soft-cap in 7 hours and 14 minutes making a very strong statement of their prospects.
The pre-sale will continue to offer TOKIA tokens -47% off the regular price for the early buyers. According to the statistics, currently there is interest from 73 countries worldwide. This is a unique number and it alone shows how much more the blockchain based solutions can reach in comparison to traditional ones, especially when speaking about financial services. The numbers are inspiring as they show there are no borders for effective solutions.
To know more about TOKIA, visit www.tokia.io
