When the Opportunity Strikes, You Must Dip Your Toe in Crypto
It is never late to change your mind. Where Crypto is concerned, it’s no surprise at all to see Wall Street bankers change their minds in favor of crypto. You know the winds of change are here to stay when Wall Street’s biggest banks, such as JP Morgan Chase and Goldman Sachs, start moving their attention towards the same cryptocurrency industry that they considered to be a ‘giant fraud’ not more than a year ago.
Indeed, it wasn’t so long ago at all when Goldman Sachs published a research paper that said that “cryptocurrency mania” is one of the most significant risks for the global markets, on par with terrorism, populism, and cyber attacks.
Last week, Goldman Sachs chief executive Lloyd Blankfein offered some valuable insight: he noted that money has “morphed” into unexpected forms many times. He also said that the very idea that bitcoin will never be a preferred medium of exchange, a unit of account or a store of value is “arrogant.”
So, what made these financial bigwigs change their mind over the course of less than a year? Our intention in seeking to answer this question is not to show these organizations and their C-level executives in a low light. At CINDX, we believe that it is way more important to raise up value than to find faults. As a business venture and a group of individual human beings, it is our foremost duty to value the trends that bring meaningful changes to all of humanity.
Notable Facts
It is important to check the facts happening in many locations in the world, non-connected and discrete in nature, that are proving the worth of cryptocurrency and showing the entry of crypto into the mainstream. Nomura, the Japanese broker, has entered into Komainu, a three-way venture, one of the first to break the ice in one of the most interesting domains all big financial firms are getting into — crypto custody.
Switzerland’s stock exchange, part of the SIX Group that is co-owned and co-operated by a group of 130 banks, recently announced a plan for a venue to trade, settle and store coins. Meanwhile, Bakkt, a global platform, and ecosystem for digital assets will act as an intermediary for Starbucks to allow for customers to trade crypto for fiat and purchase Starbucks items.
This is only one example of the numerous and significant amount of news that crypto acceptance is growing rapidly. The real point that CINDX wants to get across is not about how and who accepts bitcoin.
We want to let you know why this is happening.
Why is there a Sudden Flow toward Crypto in the Market?
Let’s not waste time on counting the “who” and “how” of the shift toward crypto. Instead, let’s focus on the reasons why this shift makes perfect sense.
Bitcoin was created less than ten years ago in 2009, by an enigmatic figure called Satoshi Nakamoto. Satoshi’s main aim was to create a currency that is devoid of the risk of inflation and can meet the drastic demands of the digital shift of lifestyles of people.
The first aim fulfills the requirements of citizens of developing nations, while the second fits well with the lifestyles of developed countries. Although the digital shift is making waves everywhere, the developed nations of the West are the ones that accepted the digital culture initially. The digital infrastructure is palpably more organized in these economies too.
These two basic aims and the relevant geographies that rely on these aims to fulfill their market demands need and rely on the same concepts on which cryptocurrencies are built on. In other words, the idea of Bitcoin has the potential to sync with the demands of an ‘inflation-absent’ future and to fulfill the needs of people who prefer a digital lifestyle to the one in which the fiat form of currency is more likable.
Cryptocurrency’s potential in the global financial and technological spheres are the main reasons why everyone is considering crypto’s value now. When something as revolutionary as cryptocurrency comes along, it will attract everyone — the salaried Indian citizen who saving money for retirement as well as the billion-dollar big banks of the Wall Street.
That’s why CINDX thinks that you must dip your toe in crypto. Crypto has the potential to change your life.
