New industries built around cryptocurrency and blockchain have erupted , @GenesisBlockch
June 17, 2019 (Investorideas.com Newswire) Cryptocurrency just turned 10 years old, before that the idea of digital currency, non-centralized administration of assets and a global platform capable of transferring money free of charge through an incredibly secure operations network was a myth.
Complete new industries built around cryptocurrency and blockchain have erupted. Investors took the chance on Bitcoin ten years ago and bought tokens for nothing that today are worth $9,159.93 at the moment this article is being written.
In recent years there have been times when we overestimated the change of cryptocurrency and blockchain. Some of the promised changes include blockchain-enabled smart contracts becoming the new fabric of the internet, or "Web 3.0." Bitcoin becoming the dominant, global form of value in a process of "hyperbitcoinization". And blockchain technology replacing all types of existing infrastructure, from supply chain to personal records.
Constant changes in law and regulations, or obstacles such as most of the bank industry adapting at their own pace, neglecting change or trying to grab control of this rising economy have been some of the struggles crypto is dealing with, meaning this technology and industry is far from being fully developed, and that growth is inevitable. Everybody wants a piece. But which one?
How long will this maturation process take, and how will this affect tangible money?
The concept and existence of money has been with us since c.3000 BC. Tangible money has been a method of barter, exchange and reputation for ages now and it doesn't seem like this is changing.
It is also said that money, expressed as coins or bills has some sort of magical feeling to it. There is a personal notion of empowerment, an engaging confirmation that you are of value. Being able to acquire different goods thanks to the money earned by a superior effort (work in any of its manifestations). Behavioral psychologists such as mental health expert Nancy Brooks says"
"People are constantly bombarded with the power of money and how wonderful your life can be if you have money, and how having it can change your life," she says. "The physiological process when you see money is that it can release the endorphins that make you feel better."
So, will tangible money disappear and will bitcoin overtake all economies? Most of us wish and are working for it to happen. Wishfull thinking experts and investors certainly want that to happen.
When the most innovative technologies in the world are adopting cryptocurrency that is a considerable development. The last frontier for crypto is Wall Street, going all-n.
Little by little their posture is changing, companies such as Fidelity launched as a standalone business in Fidelity Digital Assets in 2018. Then Bakkt happened, a creation of New York Stock Exchange parent company Intercontinental Exchange (ICE). Bakkt raised $182 million at the end of 2018 to build a regulated cryptocurrency exchange.
Then there is JPMorgan. The Wall Street giant went from calling Bitcoin a "fraud" in 2017 to announcing their own cryptocurrency six months later. You can't make this stuff up. As more and more Wall Street players enter the game, expect these reversals to become more common.
Finance markets have a traditional tendency to herd mentality, this meaning that when big companies make sudden moves, businesses under them will start adopting those behaviors.
Both currencies, tangible and digital, are still strong in their own markets. One still rules the world and the other is the up and coming "new solution". All predictions towards cryptocurrency are positive, yet there is a long way to go before it dominates the internet and the global financial system.
Remember that both industries are dealing with people's money and it doesn't matter if they believe in bitcoin or not. It's their money and like everyone else they want it to be safe, useful and worth as much as possible.
Nobody believed in bitcoin 10 years ago, imagine what intangible money or cryptocurrency can achieve in the next ten years. Try.
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange.You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
For more information on the Genesis Exchange App please refer to:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: Genesis Blockchain Technologies is a paid sponsor of the #CryptoCorner podcast at Investorideas.com https://www.investorideas.com/crypto-corner/
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com