When something new comes along, it's seldom adopted quickly. No matter how good it is, it can take time. But when it's something so revolutionary and turns things around so much, it can also be ahead of it's time and be harder for people to wrap their heads around. This seems to be the case with cryptocurrency.
Those who are invested in the old and inferior way, try to maintain the dominance of the old way. But the new and better way gains more and more supporters as it's superiority is recognized. The old bankster grip on people, and nations themselves, is under threat. Traditional banking, investing and monetary police is being shaken up.
Crypto has made it's mark, and it's here to stay. What will it's future in regulation and governance be? That is yet to be determined. Regulators and governments have pushed against the crypto march for a while, but they are stubbornly being forced to accept the future they tried to ignore. Bankers and hedge funds are fast warming up to the crypto heat. If they don't jump on board, they might get left behind in the dust.
Cryptocurrency is emerging as a mainstream asset class that is captivating all generations, from young to old. If financial occupations want to move with the times, they need to adopt the crypto as an asset and get the new customers that are pouring onto the scene.
The old way of the stock market has a dirty taste in many mouths, given the decade-old financial crash. Something new is needed for the new generation to invest in that don't want to get into the tainted stock market. And here comes crypto to the rescue as the new mainstream asset class for investing. Daisuke Murayama, a former Barclays trader, says he "see a future in traditional finance", and has hopped over to Japanese Crypto Exchanges. There is a big shift on it's way, and some are ahead of the curve.
As more cryptocurrencies get adopted in business, it will become a cash equivalent. Some people don't trust bank, bonds, the stock market on many others modern ways to save or invest, and they have cash on hand, or better yet have invested it into the traditional safe haven of precious metals. But bitcoin is on the rise as a safe haven as well.
Bitcoin like precious metals, doesn't erode in value like fiat currency does with inflation as more is printed. Bitcoin has a finite amount that will be created. It is limited, and hard to create through mining. There is high risk in crypto, but the potential return is orders more than any investment in previous metals, a savings account, or the stock market can give you.
Crypto therefore has many different financial uses, despite regulators trying to pigeon hole it into one single classification, like a security. This is shortsighted though, as creating restrictions on it's use can hinder the potential for blockchain technology. It shouldn't be regulated or restricted. Let whatever it can be used for be used. If people want to make a foolish investment and, then they can lose their money. Let's say crypto is "all a scam", well we still don't need nanny-mommy-daddy- protectors treating us like babies in order to protect us if we want to make foolish decisions.
The future of crypto and how it can change society is interesting to think about. Will crypto win over the hearts of the media, bankers, investors and governments? Or will they try to restrict, limit and control the potential future we can have that crypto and blockchain technology can bring? Will bitcoin be a recognized financial term that doesn't illicit a negative response from people, as if it's a scam, bubble or other ideas to dismiss its value?
Thank you for your time and attention. Peace.
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