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With the ongoing Covid19 pandemic, threat of economic depression as inflation steadily increases, along with disrupted supply chains, and the increasing cost of living, people and businesses are turning their attention towards alternative financial options.
Within the banking and finance sector, all of the aforementioned threats to global economies has generated a more popular option of selling, trading and spending. One that isn’t dictated by the risky mandates and regulation of government and banking institutions.
Reports regarding the future of finance from French Financial News Experts at Finyear state that we are in for a huge awakening based on the trend of digital currencies:
According to Deutsche Bank the current money system is fragile. Deutsche Bank sees that by 2030 digital currencies will rise to over 200 million users. In the “Imagine 2030” report, Deutsche Bank suggests that digital currency could eventually replace cash one day, as demand for anonymity and a more decentralized means of payment grows.”
Thanks to programmers and technological innovators such as Satoshi Nakamoto founder of the most popular traded cryptocurrency, Bitcoin, with the use of such digital currency you can buy, sell and exchange directly, without an intermediary like a bank. This type of currency has revolutionized payments and spending trends.
In September of 2021, El Salvador became the first country to accept Bitcoin as its official legal tender. The announcement is a new milestone in the widespread adoption of cryptocurrency. Such a boldfinancial decision and progressive thinking made by El Salvador has set the precedent for others to not only observe, but to follow suit into to the trend of adopting cryptocurrencies as national and international legal tender.
It is a very important and lucrative skill one can have that allows them to be able to see into the future and act toward it in the present.
— Mohith Agadi