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  • 20 Predictions about the future of money

    Until a few decades ago, no one imagined that money would change so much that people could keep a large amount of it in a small card.

    From the day man began minting gold and silver coins, the process of buying and selling goods and services has undergone various changes.

    By minting coins, the term money found a standard framework, and people were able to solve their trading problems for years.

    Of course, the process of changing money did not end there, and decades later, the age of digital money began.

    There are many differences between the views of different people about the future of money.
    Some predict a promising future, but others are pessimistic about the outlook for money and its possible changes ...

    To begin with, let us first look at the perspective of Balaji Srinivasan, CEO of Coinbase Exchange Technology. He believes that in the near future, the concept of the DeFi Matrix will be a powerful measure of the dominance and influence of central bank currencies.

    Some paint a world in which everything is a token, or, as Jeff Dorman, Arca's chief investment officer, predicts, in the not-too-distant future, each company will have a token in its financial structure.

    Eric Warhis, a staunch supporter of Bitcoin, believes that Fiat currencies are self-immolating and disappearing. Marcelo Pratz, a researcher and employee of the Central Bank of Brazil, also believes that in the future, six large companies operating in the field of digital currency technology will form a powerful digital currency that will devour the world economy.

    Therefore, it is better to consider the different dimensions of money before choosing a new generation; Because new money is definitely affecting different parts of our lives. We are at the beginning of these changes and this process has its own pros and cons.

    1. Digital currencies replace the dollar

    In the past, countries that faced the collapse and devaluation of the national currency due to economic problems would so-called " dollarize " their economies, and then the dollar would replace the national currency. This approach will be completely abandoned in the next 10 years.

    2. Coexistence of digital currencies

    In the future, digital currencies and fiat currencies will continue to coexist.

    It is possible that in the future, in addition to making it easier for people to access the dollar, some small, low-cost Fiat currencies will be merged with China Blockchain technology to maintain their power and position.

    3. Passion for programming

    In the future, the use of digital assets as much as the use of e-mail among ordinary people and programming as well as reading and writing will become commonplace.

    I expect hundreds of tokens to be generated each year, and all of them will have their own price and at the same time provide users with a variety of financial features.

    4. Defy matrix on the path to globalization

    The Defy matrix can be compared to the Social Graph or online communications of the last decade; An issue that has slowly become an integral part of our lives today.

    We have now reached a point in history where almost all the assets in the world can be stored in a digital wallet.

    Not only bitcoin and atrium, but also digital currencies of central banks (CBDCs), corporate stocks, bonds and loans, and billions of dollars of these assets are traded around the world every day.

    Accordingly, all financial markets can be considered as a sub-matrix or subset of this matrix. In the coming years, traditional stock markets will become a competitive market for digital banking and non-banking currencies.

    Forex will also become the battleground between digital banking currency, and eventually, trading markets based on fiat currency and digital currencies will give way to bitcoin trading with stable coins.

    5. Defy matrix criteria for the activity of banks

    According to Balaji Srinivasan, in the future, the Defy matrix will be used as an indicator to measure and evaluate the strength of digital banking currencies.

    Just as Google News has increased competition among local newspapers, the proliferation of digital wallets has allowed the national digital currencies of different countries and public and private digital assets to compete with each other.

    Meanwhile, governments can only control the extent to which decentralized digital assets are expanded and accepted within their borders.

    This is at a time when people are reluctant to accept government digital currencies and try to keep the least amount of such assets.

    In the future, people will use currencies that take advantage of flexibility, more privacy, and predictable fiscal policies.

    Government digital currencies, however, do not offer any of these features; Therefore, people will not seek to use them. Thus, we will enter a new era of global competition between different currencies.

    6. Digital currency can not defeat the monetary system

    Given that digital assets, Including bitcoin, depend on the current monetary system for pricing and valuation, they can not compete with this system.

    It is the pricing and monetary system that allows digital currencies to be exchanged. A new era for trading is emerging;

    But digital currency enthusiasts have confused it with the "new age of money"

    Jun-17-2022 08:50:51 PM

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