Cryptocurrency is going mainstream, as analysts project that the crypto market will grow exponentially over the next few years.
There’s a lot to unpack about the reality of crypto going mainstream as the global adoption of cryptocurrency continues to increase. For one, the nature of crypto has always been at odds with many of the institutions we associate with “mainstream” big players such as governments, central banks and venture capitalists.
At the heart of crypto is decentralization, which also means transparency, immutability and security. Crypto was built on the heels of an economic crisis , meant to give back financial power to the people and avoid total economic reliance on fiat money and centralized banking.
Today, the push-and-pull between regulatory bodies and crypto organizations proves that crypto is indeed going mainstream. Regulation isn’t bad, but it’s intriguing to see how centralized institutions are trying to inject a bit of centralized order into the seemingly unruly and rebellious world of crypto.
With more and more countries legalizing cryptocurrency, and even some looking to follow El Salvador’s footsteps in making crypto legal tender , it’s clear that crypto will never fade into the background anytime soon.
Needless to say, the future of crypto is inextricably woven into the future of business, technology, and society in general. At the rate things are going, analysts project that the cryptocurrency market will have tripled in size by 2030 at a valuation of around $5 billion.
A lot of modern businesses nowadays give employees early shares of the company’s profits as equity.
In the future, equity shares will likely come in the form of company cryptocurrency. This way, each business can form its own ecosystem that employees can participate in.
The use of company cryptocurrency will also enable businesses to bypass the fees such as floatation costs associated with more traditional equity-sharing models, so that’s another plus.
It’s still the early days for company cryptocurrency. But, as crypto adoption continues to increase, we can expect to see more and more businesses adopting it.
Online platforms are already being used widely to raise money for different causes and projects.
Early hesitancy in the practice of investing money in new ideas has lowered, thanks to the increased availability of secure platforms.
We can expect this to continue well into the future, especially since crypto allows people to make smaller lower-risk investments without the fear of losing money. Small businesses and crypto projects looking to raise capital can continue to do so via methods that allow traders to invest in new blockchain projects.
Crowdfunding using a dedicated blockchain wallet allows the process to remain transparent, increasing the accountability of both traders and crypto companies to conduct their business securely. Fundraisers can also avoid paying third-party platforms’ fees without sacrificing donor confidence.
Crypto has long been criticized for its lack of inherent value. However, the shift toward contactless transactions amid the pandemic has emphasized the value of digital currencies and blockchain technology in the modern world.
For this reason, merchants have been slow to adopt cryptocurrencies as a form of payment. As it gains widespread usage, however, we can expect to see more businesses accepting crypto in the future.
The global pandemic has changed the way a lot of us do business. The shift away from cash and face-to-face transactions toward digital cashless ones has introduced many people to the convenience of paying digitally. So, it’s no surprise that crypto is starting to gain traction as a viable payment option — one that will only continue to evolve.
While still in the early stages, large platforms such as PayPal, Visa and Mastercard have already started allowing clients to purchase and transact crypto through their platforms. PayPal can now be used to buy and transact crypto like Bitcoin ( BTC ), Ether ( ETH ), Bitcoin Cash ( BCH ) and Litecoin ( LTC ).
Meanwhile, Visa allows users to conduct transactions with stablecoins on the Ethereum Network. Mastercard also announced the launch of its crypto card in late 2021 and is set to support most digital currencies in the years to come.Merchants who are still on the fence about accepting crypto can rest knowing that it is here to stay. The cases for and against crypto as a form of payment are slowly evening out, and more businesses will likely start accepting it in the near future. In addition, businesses can save on transaction fees when using crypto as a form of payment. The concept of a decentralized autonomous organization , or DAO, is also something that will likely […]
source Crypto is going mainstream: Here’s how the future founders will build on it
Protected by Patchstack