Having cash on hand for immediate use is one of the most significant impediments to new cryptocurrency investments. It may even influence market volatility. The success and adoption of Nexo will give cryptonians the confidence to shift more of their assets to the cryptocurrency market(s). Not requiring credit checks is another advantage. This will provide instant stimulus while also aiding in the transition to a modern economy. Soon, cryptonians will just be referred to as consumers and Nexo included among the discussion of lending institutions and credit markets.
- available here: https://nexo.io/
The Need for Change
Overdraft options liberate cryptocurrencies to compete with conventional markets. Instead of market wars, consumers get to decide the fate of the global economy. And this is where Nexo’s overdraft is really interesting. Traditionally, economies have been contained by principles of centralized organization. Problems in these systems have been apparent for some time.
Conventional Economies
Centralized economies have fostered global warfare, police states, and the formation of failing organizations, like the European Union. Central authorities, whether Democratic, Republican, or Socialist all have their faults. Concepts like trickle-down economics do not blanket the entirety of a population. Similarly, corruption in democratic systems never match the inputs with the outputs. Under socialism, the lack of private ownership results in innovation failing to reach the more distant needs of population distributions. Small business and individual consumers are left standing at the end of a conventional economy line.
Markets Disruption and Organizations
Global organizations tend to resist core, fundamental changes even when disruptive technologies, like the Internet, flex their muscle. Beyond war, this results in instances like the banking crisis of 2008. How can a world, newly armed with the Internet, have failed so badly at economic relationships unless there was a preexisting flaw?
Differing power bases and asset structures have caused conventional organizations to focus more on competition than on production. Today, modern economies still gravitate toward central consolidation. The biggest central authorities outpace the growth of smaller ones. Many consumers will not make the line cut in time to get what they need. Thus, competition exists on three fronts. Between providers to obtain resources. Between providers to reach consumers. And between consumers to influence providers to meet their needs. Ultimately, a global online digital economy may end centralized war, but will also likely increase the need for police action to maintain line order. The result is people increasingly being cut off.
Production and Innovation are King
Since competition is a burdensome enterprise, and not meant as an ongoing event, one cannot fault authorities for their battle weariness following central consolidation mergers. In addition to acquiring power and assets, central consolidation means contending with and adopting cultural, languages, geographic environments, manufacturing standards, and other nuances resulting from consolidation. Nexo facilitates the overdraft necessary to transition consumerism to the new economy. It immediately empowers individual crypto investors, startups, and small business. Instead of organizational battles that cannot oversee all of its members, consumers can better provide for themselves.
Liquidity intertwines consumer goods into the regular operations of the crypto markets. A global economy driven by cryptocurrencies arrives, not from a higher market price or capitalization, but from consumer spending. It will be signaled by a large portion of the population transitioning their lifestyle. Possibly, one Christmas, news agencies will report on cryptocurrency sales from Thanksgiving. Finally, Nexo can be used in discourse the way credit companies are today.