Finance

How To Think About The Future Of Digital Currency

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This is a general allusion that cryptocurrency, digital currency, or digital assets “disrupt the financial industry” and will usher in a new future financial inclusion. That’s all BETTER and BENEFICIAL.

But how can we imagine This Future?

If you are interested in tackling such questions, then, let’s look at methods to help us consider what the future of digital currency will look like.

There is an economic concept by Jens Beckert called “Imagined Futures.” Basically, he said traditional economic theory, in which the decision was based on history, not entirely fair. On the contrary, people also make decisions based on what they believe will happen in the future. Everyone has the power to imagine and decide what they want.

Importantly, Beckert also talked about how this vision is important, even if they do not become a reality. Regardless of their manifestations, they coordinate a group of people toward a collective future that we all must share. They should be taken seriously, because of their ability to do this and not necessarily for what they promise special.

Digital currency futures

Every day, in the world of crypto and blockchain, we sell new imagination in the future. However, there is nothing to say that one will succeed where others would fail.

Although Bitcoin is often credited as the catalyst that started the movement cryptocurrency, most cryptocurrencies and digital currency is now very different from what Satoshi Nakamoto set out to make.

Bitcoin to put in the same basket as Ripple comfortable, but it is misleading. In both cases, the coins are based on very different technologies, uses a different mechanism of consensus, and occupy very different places in the market. digital token such as Facebook Libra and this telegram Ton muddy the waters further. Newcomers in the industry will often struggle to distinguish.

Take Libra as an example. Reports say Libra will be “Facebook Bitcoin,” but this could not be further from the truth. Much has been said about the consortium should have a decentralized company that will run Libra, and in fact, it is not decentralized at all.

It’s important then to recognize this industry consists of a wide spectrum of projects, create a broad spectrum of promises. Cryptocurrencies, tokens, and digital asset scramble all looked the same market, but they all take a very different approach. Can not be overstated how important it is to understand how a different approach from the other.

By understanding that the future is subjective and that projects, regulators, and ourselves feel and creating a different vision, we can begin to understand what it might look like as a whole. 

So, what’s your perspective about the future of digital currency?

Also read: 15 Best Ways To Choose A Trusted Forex Broker In 2019-20

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