Without a doubt, cryptocurrencies have had a really important impact on society. However, there are still many challenges they face. But what is the future of cryptocurrencies for some experts?
Without a doubt, they are gaining popularity as more people dare to invest in cryptocurrencies. Likewise, companies are also beginning to consider cryptocurrencies as a valid means of exchange or storage.
Some Experts’ Approaches to What Cryptocurrencies Will Look Like
It is becoming increasingly difficult to imagine a future without cryptocurrencies. Here are some experts’ views on what cryptocurrencies will look like a few decades from now.
Certified Financial Planner and Founder of Delancey Wealth Management.
«Cryptocurrencies will disrupt traditional finance. Because one of its most attractive utilities is the ability to efficiently transfer payments across borders with little or no cost, delay, or foreign currency fluctuations.».
In addition, he added: «Regarding Bitcoin, 50 years is a long time and it could become the world’s reserve currency or the next AOL».
Also, as investors become more interested in cryptocurrencies, financial advisers feel a new urgency to offer investments to clients.
A professor of English and journalism. Also, author of “The plot of money: a history of the power of the currency to enchant, control and manipulate.” Overnight, Bitcoin became more than just a speculative tool. It became something that could protect wealth from economic conflicts.
«Long before 2071, the dollar will have more in common with a cryptocurrency than with silver or the dollar. So there is no need to doubt the longevity of the algorithms».
Also, he added: «As our lives converge ever closer to the digital universe, the drive to invest in tokens will only accelerate.».
Vice President of Behavioral Finance and Investments at Betterment: «Cryptocurrencies like Bitcoin have proven useful for money movement and speculation. And they are unlikely to disappear».
In fact: “It is worth considering where and how we will generate the energy to meet the demand. Just as if state actors who see it as a competitor of fiduciary power will further turn it into a black market product».
He is a research professor of computer science at Arizona State University (ASU). And, also director of Blockchain Research Lab, a project that seeks to promote the development of applications based on Blockchain technology.
According to Dragan Boscovic, not everything is negative for cryptocurrencies. As some news brings a ray of hope to this market.
«Central bank authorities are busy developing regulations on cryptocurrencies. They recognize that digital currencies are native to the digital economy and as such are on their way to becoming mainstream in the next 10 years».
According to Boscovic, cryptocurrencies, while relatively new, have been with us for almost a decade, long enough for a new technology to gain traction.
The professor also said that: «The industry now sees an opportunity to offer a new asset for trading, expanding options for investors.».
Voyager CEO said: «Encouraging investors remain bullish following recent market correction».
«The fact that the vast majority of our broad investor sample is more confident in the future of cryptocurrencies shows how people view May’s volatility in many crypto assets as a buying opportunity.».
The future of cryptocurrencies, in the air
It is true that, as long as people maintain their trust in cryptocurrencies, the outlook for them will continue to be favorable. And its value will increase in the same proportion as its demand.
In this regard, José Ángel Álvarez, president of the National Association of Cryptocurrencies in Venezuela said: «The backing of a cryptocurrency depends on something called trust».
Ultimately, the future of cryptocurrencies is still up in the air. In the meantime, it is important that companies, experts and investors know it in depth. And in case you decide to bet on them, be prepared to face any possible scenario.
And you, do you play or invest in cryptocurrencies? Leave your opinion in the comment box.
I retire with this phrase by Allison Reichel: «Bitcoin is really something that I think has the potential to revolutionize monetary regimes around the world.».