Why the world needs cryptocurrencies for payments, more than ever…

There are countless good news stories about the future of decentralized finances, but they are all too often overshadowed by the dark night humanity is waking up from, centralized money.

The more centralized authority is, the easier it is to corrupt.

The problem isn’t the individuals who control the financial systems at large, it’s that monetary policy is decided from a place that can be easily manipulated.

Fortunately with the advent of cryptocurrency, there is a very clear path forward that is emerging. We can have money with democratized control. I have decided to dedicate myself to this future reality full time, with the launch of my new company Mosendo.

Decentralized money is a great idea however there are some major things that need addressing immediately with this new technology:

• The first thing that needs fixing is volatility. As Tom Howard my CoFounder regularly says, “Bitcoin is great! But it’s not practical if say I want to buy a car and my savings are in bitcoin, I might end up with 3/4 of a car tomorrow or maybe 2 cars”.
• The second thing is the user experience. I spent countless hours introducing new users to cryptocurrency, including having trained over 7500 people how to use the tech we have currently. The opportunities to improve the overall user experience are abundant.
• The third thing is a psychology shift. Change is inevitable and there are countless times in history where people said “it’s not time yet”. For example, Blockbuster lays in ashes because it said no to acquiring Netflix. They thought the internet could never scale to handle streaming video. Don’t bet against human ingenuity, that’s a fools game.

I’m curious to hear more about your take on decentralized money. Drop me a line here in the comments or join the conversation in our Depfi Telegram group here.

DISCLOSURE: At Mosendo, we’re working on making the Mosendo app so you can send money to anyone, anywhere.