Cryptocurrency a Future Beyond Investment
It’s no secret that it’s a tough time for the world of crypto, we have seen a lot of negativity surrounding the space lately, not to mention some very creative headlines! Generally spirits are down, but they shouldn’t be — it seems that a very important message has been forgotten about, something we are going to give you all a gentle reminder of!
While raising funds and increasing adoption is an essential element of the crypto space, it is important to remember that this is not the sole purpose — cryptocurrency is about so much more than the market price and a return on investment.
Bitcoin was not launched with a value of over $20,000 per Bitcoin, when it entered the market it was worth just $1! When the white paper was first released its main narrative was not as a ‘get rich quick scheme’, nor did it mention how to become an instant millionaire by investing, instead it angled towards the technology and its capabilities of creating a global digital currency. A currency that will allow anyone with access to a mobile phone access to financial service, a notion that is far bigger than just an ROI.
Now is a good time to remember that concepts such as coloured coins and counterparty were created on Bitcoin 2.0. Mastercoin the world’s very first ICO happened via Bitcoin and decentralised applications including Provably Fair Gaming and Proof of Existence were powered by Bitcoin — all while adoption, belief and market value were far lower than they are today!
Bitcoin introduced us to a vision of a world bank, a global currency that can change the way we do business, value money, make transactions and go about our daily lives! Somewhere along the line the vision has become blurred and judgement has become a little clouded, the focus has strayed away from the main mission of this revolution and the reason why we named it a revolution in the first place.
Reflecting on the need for a global currency
Many of us living in countries such as the US and UK tend to take the financial system for granted — we get paid into our bank accounts, keep our savings in our bank accounts and are under the impression that our money is safe in our bank accounts. We go about our daily lives and don’t really give it much more thought! We are used to the headaches of hefty transaction fees and time-consuming transfers, we accept the inconvenient nightmare of trying to arrange an appointment with our bank manager and are used to our every financial transaction being monitored! But, why? Because we are told that this is the way it is and it’s not going to change. But the reality is it could change at any time, what if your bank was to go under or your country suffers a severe financial crisis, which in the UK with Brexit looming there is every chance could happen!
Climate change is another issue that has a severe economic impact on different countries around the world. A recent report by the United Nations Climate Change states that climate change is imposing serious economic and social costs on developing countries, costs that they can’t afford, but don’t seem to have a way out of.
Economic globalisation would help to increase revenues to nations that are in need of a burst of finance to help them work on their infrastructure and other needs so that they are better equipped to deal with issues such as floods, droughts, severe weather disasters and hyperinflation, all issues that we are seeing a lot more of. Things need to change and fast, and we already have the answer — cryptocurrency.
Building better business
Every business from financial management to not for profits can benefit from implementing cryptocurrency and its technology into its business structure. Cryptocurrency alone not only reduces transaction fees but it allows for faster payments, helps to reduce fraud and eliminate the strain of business-to-business cross-border transactions — opening up new opportunities for worldwide business. And then there is blockchain technology, which in itself is capable of transforming everything about business from data management and security to human resources and scientific research, but we already know all of this and we already know how to change it!
In a recent blog we took a look at some major companies that have already embraced cryptocurrency to help solve business problems and enhance their consumer experience. Now is not the time to sit back and watch, it’s the time to join them.
Cryptocurrency and its technology are evolving beyond that of an investment opportunity, Satoshi Nakamoto placed a concept in our hands to map a brighter future for all. So let’s take a moment to remember what cryptocurrency is predominantly about — creating a world bank and redefining new ideas! It’s about helping people to live better lives by allowing them to connect with the rest of the world financially, it’s about innovation and using the powerful messages that we have been given to create a better future for everyone!
As the saying goes, ‘Don’t let greed cloud your better judgement’, crypto is not the first investment to fall and it certainly won’t be the last, but unlike any other kind of investment opportunity out there, cryptocurrency has another narrative, one that can survive on its technology and capabilities alone!
This is our time to concentrate on building good products that can assist with the imperative needs of the world and to reflect on the main message of why this revolution started in the first place! Remember the world doesn’t change in a single day — it takes time. Keep the focus, keep building, keep changing the world — yes it will take time and along the way, there will be successes and failures, ups and downs, highs and lows, winnings and losses — in the end, it shall change. Ad Astra Per Astra — through hardship to the stars (or shall we say the moon) ;-)
If you would like to find out more about cryptocurrency and blockchain technology, download B21 Life, our cryptocurrency and blockchain education and training app!