Our take on the future of cryptocurrency
Welcome back.
It’s clear that Bitcoin has transformed the lives of many people all over the globe, delivering something that previously was the prerequisite of conmen and PC games: a huge ROI in a relatively short period of time.
If you remember, the first Bitcoins, 10, 000 of them, were used to buy 2 pizzas. Now, we hope those were worth the money because they were the most expensive pizzas anyone has ever bought (about $50 000 000 each). Maybe if they were from Papa John’s they were.
Now, the question pretty much everyone is asking themselves is: oh, why didn’t I buy Bitcoins then, when they were worth less than the dirt I’m standing on? Making the right decision is a matter of knowing the market and being able to make your move at the right time in the right place.
We can’t take you back into the past but we can make a prognosis of what the Bitcoin will be like in 5 years’ time, so you can learn from history and make more educated decisions now. The race isn’t over yet: Saxo Bank famously predicted Bitcoins will be worth $100 000 eventually. So what to do?
How to predict and not be mistaken
It is absolutely correct that the future is not written. However, you can make certain predictions based on the way things have been going.
Bitcoin now is a genie out of the bottle: just like the first instances of The Internet, it is a Deus ex-machina that is actually very close to having a mind of its own. The software itself is open code, which means anyone wishing can make an alteration to it, in turn meaning no-one knows what the algorithm will mutate into in the next few years — or even months.
What we do know, however, is that its capabilities are unrivaled, that it offers (almost) complete anonymity, which is very tempting to a lot of powerful people, and that it can go anywhere where someone has a phone (everyone has a phone these days). With its unlimited potential, what can cryptocurrency be like in the near future?
If you told someone a century ago that you would be able to speak to someone on the other end of the globe using a handheld device, they would laugh in your face. Now try selling someone an old jackknife Nokia. We also have Sophia the AI Robot, Dubai is promising to build a whole economy based on Blockchain (plus flying taxis, a nod to Luke Besson), and soon we are to see cryptocurrency transmitted via radio.
In the time when Issak Asimov was still alive, there was a whole generation of people who firmly believe that robots could become exact replicas of humans (and even better). Now the movie “I, Robot” has become a reality.
The tempo with which the technological scene is expanding is frightening. Cloning humans is now possible, and the scientists are working on defeating mortality. Cryptocurrency has changed absurdly quickly since its inception, and, while it is still an infant, it is a powerful, omniscient, omnipresent infant with a global presence and some serious speed of doing business that has superseded everything that came before. Oh, and Japan have 5G internet now. Any chance that could make things happen even faster?
Bitcoin now is what Internet was at its first stages — wonky, fluffy, and really unsure of the extent of its own power — but look at it now! The cryptocurrency business, which was born decades later, is evolving much quicker — just like the new robots in “I, Robot”, except the Internet and Bitcoin are allies. In effect, to calculate where the Bitcoin will be in the near future, you need to think in terms of exponential growth curves that look something like this (in our case it’s a J-curve because the growth is happening very rapidly).
Now, you, as always, will get a fair share of protesters who will say this will never work out. The same people who said the Internet will never work out will say that Bitcoins will never work out and come back to the production value of $1000.
So, we think it would be difficult to predict what the future will be like, but it is possible to look at what worked before and what hasn’t, and also at things that make successful projects successful. Businesses and services become successful because they all have certain traits.
The first trait that the Bitcoin offers (along with blockchain and all the crypto business in general) is freedom. You know Brazil is soon to introduce a democracy based on blockchain and Dubai is to base мерушк whole economy on it. True, freedom comes with certain limitations like it always does. No-one is 100% protected in the end. Still, doing everything by the book and talking healthy risks will result in being able to get things done that no-one has so far. If you do things today that no-one else has done, you will get the results that no-one has yet.
New World Feature #1: Global democracy
So…what is the first prediction we have? Well, it is a little obvious, but we do think that the only democracy that is real all the way is a democracy that allows all partakers to take a vote.
The blockchain is the first system that allows doing that — not only on paper. The future, taking into account the tempo of development of blockchain and the events we mentioned, is sure to look like most countries at least will have a blockchain-based democracy soon.
Now, we know that is the plan and the results will likely come at their own pace, slower than expected, but we do think the world will be moving in that direction fast.
As America finds a way to regulate blockchain, other countries will follow. Brazil will be ahead of everyone, and the same goes for Dubai. Th erest will follow, as they are following now. Businesses will also bloom thanks to fantastical transaction times and meeting held over the internet, and there will be a lot more companies offering a lot more services at lesser prices because of fierce competitiveness. Blockchain’s purpose was a redistribution of power equally, and after a process of adaptation to the system, it will do exactly that: its opportunities are near limitless.
At Revain we are thrilled to be a part of the future in which transparency, honesty, and immutability of data, our original principles, are the foundation of everyone’s lives
New World Feature #2: Paying for everything is done through a server which takes all
The move toward unification of fiat and non-fiat currencies has been ongoing for years. In last few years, mobile banking has been a great step to improving, well, everything to do with payments — from touch payments to increased security and dedicated apps.
The next step is a terminal that combines an exchange, a wallet, a currency conversion point, and an atm. You just receive Etherium, it gets automatically converted into dollars, and you pay for a beer plus order a new beer mug from Amazon in two clicks.
The parcels are equipped with GPS tracking, and you and the courier both have a unique key so no-one can get to the content but you. All payments are done through a fitness bracelet on your wrist, which is lighter than a matchbox and voice-activated.
Also, the risks increase, and that is why at Revain we are proud to introduce a system that is based entirely on reviewing user opinions which no-one can fake or change.
After all, the inevitable question is — what if someone is smart enough to hack into the system? They would be the richest person in the world, so there is enough incentive.
However, even if the system were to fool you into making the wrong choice, the people’s opinions wouldn’t. At Revain we don’t only use the latest tech like IBM Watson to fight virtual corruption, but also rely on our users. It sounds like Terminator Genisys, scary, we know, but also tremendously exciting.
New World Feature #3: the technology will enable people to destroy the world
The reason we talk about safety and security is that even now it is blindingly obvious that without government regulation (which is still being worked on) there will masses and masses of under the radar opportunists who will use stealth, speed, and anonymity to commit unspeakable crimes.
It’s grim, imagining a future in which there are many more terrorist acts but if we are to be ready for terrorist attacks we have to think in ways terrorists think. In a similar way, companies employ hackers to routinely inspect their security so they can defend themselves in case of a real attack.
The blockchain is a universal weapon, and if we have to be ready for an attack if we are to be able to resist it. The truth is that there is already someone out there planning something atrocious — and with the new possibilities hardly anyone can see what is happening until it’s too late. Absolute powers corrupt absolutely.
That is why, in conclusion, at Revain we are proud to be a company that offers regulation, dedication, and integrity as our core values that will hopefully help prevent these colossal powers from being used for bad ends.
We hope that our service, which is aimed at reviewing. establishing, and analyzing integrity, will be the foundation in a beautiful world with less crime, endless opportunities, and Bitcoin gift cards you can use to buy ridiculous amounts of beer.
