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Published: 04 July 2021
Digital currencies have raised a strong cloud in the past few months, with Bitcoin reaching unprecedented highs more than double its level at the beginning of the year. This has sparked serious debate about the value of cryptocurrencies and the possibility of issuing certified copies.
Although some expect that it will forever change human perceptions and how they interact with money, others warn of a dangerous bubble. But no matter how much a person predicts cryptocurrencies, it's hard to imagine the future without them.
In a CNBC report, experts from various fields predicted what the cryptocurrencies would be 50 years from now and whether the financial sector would prevail, and the following is a summary of their respective vision.
Ivory Johnson, certified financial planner and founder of Delancey Health Management Financial Assets Management, says: "Encrypted currencies will disrupt the traditional financing system because one of the most attractive facilities is the ability to efficiently transfer payments across borders without cost, delay or exchange rate fluctuations."
As far as Bitcoin is concerned, 50 years is a long time and could become either the global reserve currency or the next version of AoL that made so many people rich that it was dumped with better technology, according to Johnson.
For his part, Frederick Kaufman, the author of "The Plot of Money: The history of currency power in magic, control and manipulation ":" Before 2071, the dollar will have more in common with coded currencies than with silver or gold, so there is no need to doubt the longevity of encrypted algorithms as valuable stores and modes of exchange. "
On the other hand, Dan Egan, vice president of behavioural finance and investment at Betterment, says:
Cryptocurrencies like bitcoin have proved useful for the movement of money and speculation, and are unlikely to disappear.
He went on to say: "But where and how we will generate the energy to meet the demand in the growing cryptocurrency market is worth considering, as is whether government actors that regard it as a competition for legal power will make it more of a black market commodity."
Drajan Boskovich, founder and director of Blockchain Research Lab at Arizona State University, says central banking authorities are engaged in developing regulations for cryptocurrencies.
He adds: "They recognize that digital currencies are an inherent tool in the digital economy and are therefore on track to become mainstream in the next 10 years."
Digital currencies have raised a strong cloud in the past few months, with Bitcoin reaching unprecedented highs more than double its level at the beginning of the year. This has sparked serious debate about the value of cryptocurrencies and the possibility of issuing certified copies.
Central banks, primarily the People's Bank of China, are developing national cryptocurrencies, while major banks like America and Europe are exploring developing their own versions.
Several States have launched anti-bitcoin campaigns, in a sign of the continued rejection of cryptocurrency that operates in a decentralized manner and does not give government authorities the right to control the movement of funds.