Advanced technology has had a significant impact
on many aspects of our history and daily life over the centuries.
We are moving from the age of Web 2.0, where
social media dominates the screen, to Web 3.0, where the Internet will become
more dependent on blockchain technology.
Some compare the rise of blockchain technology to
Internet hacking in the 1980s, while others argue that it is simply a fad. It
was the cryptocurrency, Bitcoin (BTC), and its miraculous investment potential
that kept blockchain technology in the spotlight. The blockchain continues to
spin cryptocurrency and its widespread adoption.
However, with more than 19,000 Altcoins
circulating, could they just have a' flash' if the market became more extensive
and more competitive? Let's explore the application of real-world blockchain
technology and cryptocurrency in mainstream society.
of institutional investors in cryptocurrency
Blockchain technology is very experimental at the
moment. And it is mostly used in cryptocurrency and NFT markets, especially in
specialized communities. But, late last year, after the explosion of NFTs,
cryptocurrency gained popularity and gained popular appeal, prompting large
companies to expand into space. These include well-known names such as PayPal,
Tesla, and Block (formerly Square).
As a result, a growing number of companies are
adopting cryptocurrency as a legitimate payment method. These investments help
lay the groundwork for what the financial world will look like in the future.
The value of many cryptocurrencies has dropped
significantly this year due to large investments and various other factors.
Many experts think this is just the beginning. During each major crisis,
individual investors remain bullish and buy assets.
employees in cryptocurrency?
The growing interest of people in
cryptocurrencies is due to the fact that technology allows them to have more
financial inclusion than traditional money.
Employees and employers can benefit from
cryptocurrency-based payroll, which means it can provide better financial
management without delay. For those who are already familiar with the benefits
of Bitcoin (BTC), it can be an interesting option for paying employees.
Employees of large companies like SC5, IM, and
Fairlay have already started offering Bitcoin (BTC). Also, many prominent
athletes have requested cryptocurrency payments, such as Trevor Lawrence and
Shawn Kulkin. This has paved the way for new companies to adopt Bitcoin (BTC)
as a legitimate payment and purchase method.
can accelerate economic growth
Underdeveloped countries and emerging economies,
which are experiencing rapid economic growth, are more likely to adopt
cryptocurrency. Nigeria is an example, where a report by KuCoin found that 35%
of the population has invested in cryptocurrencies.
One of the major barriers to widely accepted
cryptocurrencies is the high gas fees in this economy that the network demands
transactions. This has to do with blockchain interactivity, which is a big
problem around technology.
However, recently, new altcoins have emerged to
solve this problem and thus gain a competitive edge in the market. Token Calix
(CLX), for example, a liquidity protocol currently in its pre-sale stage, has
gained popularity in the crypto space due to its goal of exchanging tokens instantly
with minimal gas fees. It plans to do this by obtaining liquidity from multiple
liquidity protocols (using multiple blockchains instead of just one).
Retailers are finding that pre-epidemic supply
chain problems persist despite changing customer behavior.
As the world learns to adapt to the post-Covid
economy, incorporating blockchain technology into the supply chain process can
help companies meet customer demand for speed, convenience, and social
responsibility, improve operational efficiency and improve the stock.
Retailers are using blockchain technology to
create new solutions that attract customers as well as enhance their brand
reputation for quality and reliability. Some of this will be achieved with the
help of retail supply chain partners.
All cryptocurrencies can benefit from
traceability, fast payment, and financial management. Of course, implementing a
new system will take time and will require a significant investment of time and
money. But the return is expected to be significant.
benefits of decentralization
One of the most important aspects of
cryptocurrency is decentralization. This allows the currencies to be completely
global without being regulated by the DeFi organization. The use of
decentralized cryptocurrencies can improve data transfer and transaction
The decentralized nature of these currencies
eliminates the need for third parties in financial transactions. As a result,
transaction time and fees have been cut in half. Cryptocurrency not only saves
time by enabling extremely fast transactions, but it also helps retailers save
tax money because it is difficult to collect taxes in cryptocurrency.
Payments can now be made without the use of
third-party exchanges. Thanks to the implementation of Bitcoin (BTC) ATMs and
cryptocurrency cards. Although it is still in its infancy, it is a promising
The fact that there is no fee, no hassle, and no
paperwork required to change ownership encourages its widespread acceptance.
Also, unlike your bank, encryption is ideal for
personal transactions because it does not reveal too much personal data.
However, there is some controversy over how private these transactions are. If
you value your privacy, make sure you choose a blockchain or unauthorized
protocol, which is more secure.
Describe the factors that can be issued when
considering the Bitcoin (BTC) price and future potential.
Extensive use of bitcoin payments
The first problem is the proliferation of bitcoin
payments. One of the advantages of Bitcoin is that you can make and receive
unlimited payments anytime, anywhere. In the future, with the expansion of
Bitcoin-based payments, the demand for Bitcoin will increase, which may be one
of the reasons for the rise in prices.
The half-life has arrived
The second thing is the arrival of half-life. It
is said that the price of Bitcoin may rise towards the half-life scheduled for
May 2020. Indeed, some market observers say that the last two half-lives of
Bitcoin in 2012 and 2016 contributed to the significant rise in Bitcoin prices.
Bayerische Landesbank Germany. "The half-life of 2020 could push Bitcoin
prices up to $ 90,000" (Source: Half-life Bitcoin prices between $ 20,000
and $ 50,000: hedge fund manager predicts). We are looking at other
macroeconomic factors, including the Fed's monetary policy, which could push up
the price of bitcoin in the next few years.
Specification update by developing community
The third issue is the developer community
specification update. In Bitcoin, the development community has proposed a
specification change to address the "scalability issue". This problem
is one of the major problems in the Bitcoin network. If the conflict of
interest does not agree with the specification change and divides the
community, the operation of the cryptocurrency will become unstable and may
cause concern for the market.
Movement to tighten regulations around the world
The fourth issue is the movement to tighten
regulations around the world. As far as past records are concerned, there have
been cases where the price of Bitcoin (BTC) will go down if steps are taken to
tighten regulations on virtual currencies in China, Japan, the USA, etc.
Regulations are essential to prevent fraud and money laundering. Uses virtual
currency and creates a healthy market environment. But in the short term, the
movement to tighten regulations for virtual currency prices. Can land.
Conversely, if uncontrolled news is found, the price of Bitcoin (BTC) may rise
as the value of the virtual currency rises.
Bitcoin ETF approval status
The fifth problem is the state of Bitcoin ETF
approval. Bitcoin ETF approval status can affect the price of bitcoin.
Even in more technologically advanced societies,
digital resources have not yet gained widespread acceptance. However, there are
indications that cryptocurrencies are becoming more widely accepted in society.
The lack of practical application in the real
world is currently the most important obstacle to the widespread adoption of
cryptocurrency. Unlike governments and large corporations, small businesses are
still reluctant to accept cryptocurrency. Although there is still a long way to
go before blockchain becomes a mainstream currency, we can already see how
blockchain and cryptocurrency have changed the payment landscape.