Crytocurrencies are not a “fad” of the moment, this was the key message delivered loud and clear by LODE ambassador Ian Richard during the morning breakout session of IRX.
The LODE team was in Birmingham, United Kingdom, the community’s first stop on its European tour, for the IRX (Internet Retailing Expo) held at the NEC in from April 3–4.
“We are in an era now, where the money of the future is being constructed right in front of you. I see tremendous opportunities for early adopters, merchants that want to start the learning process and start the engagement with the money of the future,” Richard told IRX attendees — the United Kingdom’s largest digital retail show attracting thousands, with many great speakers, exhibitors, and cutting-edge retail tech.
The general market sentiment around cryptocurrencies has picked up since this time last year. The market now appears to be coming off the bottom, and many experts are expecting a bull run much bigger than the last.
Richard explained, “The fiat cash world is $244 trillion dollars of debt and I believe that over the next 20 years or so all of that money will be on the Internet and that will be likely in the form of cryptocurrency. So this is a great opportunity for a merchant to start embracing these opportunities.”
But getting ones mind wrapped around what these cryptocurrencies are is really important, Richard said, noting that there are over 1,300 of them but not all of them will serve one’s purpose as a merchant or a retailer.
“Not all cryptocurrencies are structured like money — some of them are stores of value like Bitcoin some of them are mediums of exchange like AGX, some of them are just tech companies and honestly some of them are just scams so knowing the difference in my view of how to tell the various 1,300 cryptocurrencies apart from one another is the starting point for a really great experience in using cryptocurrencies on your e-commerce platforms,” Richard said.
He added, that Fiat money which is “constructed from nothing” is in trouble all over the world so that’s a really good reason to start thinking about crypto.
“It won’t be very long that there will be another crisis in paper fiat money which is a debt-based system and it’s so big that the next time that it corrects itself it’s going to be 20 times what we saw in 2008 and so that for me is a reason to start looking at cryptocurrencies and integrating them into your life and into your retail platforms because there just might be a day in your lifetime where that paper money that you rely upon won’t be here for you.”
This event was a pivotal moment for the whole LODE Community as AGX Pay was unveiled as the first “fee-free” merchant enabling solution on the CoinPayments platform, which currently boasts over 2.4 million merchants.
The full discussion from the IRX can be viewed here.
The team that is comprised of several community ambassadors then took to France for a 3-city tour (Lyon, Nice and Paris) to meet with the LODE French Community Members who have been instrumental in constructing the LODE Monetary Mass and enabling the creation of AGX Coins.
