The Rising Tides Of Virtual Currencies -Slowly Capturing Global Economy
As new market trends would get new shape, the old ways of system, matters of financial transactions wont be the same within a critical period of time. It is a certain outlook over the already available stores, that with advancement of technological tools, the economic status shifted and in the realm of cryptocurrency it is an unbelievable fact to see that how fast it is securing the position of the heartthrobs of economy.
The world is taking notice of the changes,but what I think that people are smarter to get hold of the grip within their base. Very recently the own financial activities are taking over the new ideas as per their needs.
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I dont know why some of the central bureaucrats and economists say that the currency with #P2P payment system is a hide and seek games with the help of blockchain and social media automation - a too imaginary concept. Maybe its a defense mechanism of protecting own interests,already some of the top government officials are seemed to be happy with what little revenues and taxes been provided to them as fractional shares of the revenues, for pulling out money from general people.
It is way noticeable that powers like centralized entity would turn against the shifting trends of #decentralization. When government can control the bank notes as they want, capturing people's interests and profits earned from hard labour, of patent sources of innovation and discoveries, productive deeds and objects that are creating the shares, helping the economy to grow. If such favourable control slips out of hand - their vital institutional functioning would start cease to exist.
But, what I see if global #payment systems start to change, and app development supporting web3, it is likely that the common people would have full freedom over what they want, how to play their own cards, where to invest and not getting into third party brokerage troubles that most often turns out to be a matter of discomfort for regular users.
Looking at the global market capture of #cryptocurrency back in 2020, the volume of the total asset was about $1.5B, the whole scenario was limited to less than 2Billion Dollars of crypto wealth. But, as now we are going through massive mining of coins,with millions of active data transactions per hour worldwide, things are getting more traction and gathering of more values each year. It is estimated by some of the notable economists that by 2030 the wealth volume would exceed $5B, with 2-3× growth in the currency capture, which indicates the way the market size is expanding.
But, I am pretty much concerned at the end of the generation what percentage of the global population would be in the active use of the coins, the conventional items such as : #Btc, #Ethereum, #Binance Coin, #Cardano, #Ripple (XRP) etc after a huge shift has taken place over the years of time passed on. The Conventionial economy would surely have a tight fight with the new technology, just as AI would start to grasp the job market dominated by humans to larger case.
But, amidst all of the newer technological adoption,we must be able to solve our own problems with the #currencies in use and whatever they shouldn’t be against the common cause of humans. Market trends should take the position and direct as to keep the economic growth high and we should welcome that too.
Lets see what happens next.