Cryptocurrencies seem to be all the rage now with the more popular ones like bitcoin and ethereum being hailed by finance people around the world as smart, modern investment options. It seems like at every turn cryptocurrencues are being advertised to us the consumers even prompting some people to considered taking out bank loans to finance this new opportunity!
We decided to scour round and find out the top trends and predictions from experts around the world in an attempt to get a feel of how the world is reacting to cryptocurrency. These are the opinions of experts around the world about this online currency.
Experts everywhere all seem to agree that the bitcoin and more recently Ethereum currencies have firmly placed their foot in the cryptocurrency market and don’t seem likely to budge anytime soon.
New Coin Development
Newer coins are being innovated everyday and are being designed to fill up niches that the current currencies cannot fill. An example of this is Kathleen Breitbart’s brain child Tezos which she hopes can push out software updates automatically to avoid the fights upgrades have caused over the years in currencies like bitcoin.
A cause for Concern
Owing to cryptocurrencies lack of regulation frauds can and do happen. Once a transaction happens it cannot be reversed…by anybody. This unfortunately opens the doorway for hackers, insider trading is also a major concern but these are situations that cannot be avoided with new technology. This is also a major benefit of the currency as transactions are completely anonymous and cannot be traced back to anybody.
Easier Project Funding
Cryptocurrency can remove the need for unnecessary schmoozing with investors in order to get them to drop money for your projects. An investor can give assistance from any random location making fundraising an easier and faster process.
Improvement of Existing Services
Companies like Visa and MasterCard have been proven to charge more than is required for every card swipe, cryptocurrencies can possibly induce services like this into evaluating their rates. The jury’s still out on this though as some experts also believe there really isn’t any space for banks to switch up their price models.
Read More: How to trade in cryptocurrency