Some countries have an excessive dislike of cryptocurrency, for example, the occurrence of arguments between the Federal Bank of China and the Bitcoin industry, and cryptocurrency intermediaries that are not legal in every country. This reluctance is possible because, as in many other fields, technology has advanced faster than needed understanding at the level of policy making to make good decisions about how to use it. Making an economic strategy that includes cryptocurrency will go into untested waters for the government, and this is not something that economists don't want to know about risk, even if it opens up some interesting possibilities.
However, the economy is only regulated by the government and it is driven by business and consumers, and in many cases, cryptocurrency has its own appeal for this. the only problem is starting from each country about cryptocurrencies, and this is where the fact that laws and regulations around the world don't really know how to handle cryptocurrency and that will be a barrier to the development of crypto for the world economy, at least in the past few months, I have been an observer in the development of cryptocurrencies for the global economy. in some of the articles I read, I selected several articles that were very interesting for me to explore, such as the following article
and here is a response from some observers about the future of crypto according to their version :
the condition for something to become a currency or exchange is?
1. They must have a physical form. an idea cannot be money. Of course, they can make money, but they can't be money.
2. They must be tough enough. only real will not be enough. Any civilization that only deals with leaves may go bankrupt because of a hurricane.
3. The community must agree. After all, without consensus, currency stability is damaged as individuals are not sure whether the person who wants to transact by even receiving money.
The Valuation is a consideration of the value of an asset in the future based on factors that exist today. Valuation is not a forecast because there are valid basics of data and statistics. Currency valuations, for example, can be based on inflation data, unemployment rates, interest rates, and so on. Because Bitcoin is not a currency that is specifically regulated in certain countries, it is impossible to measure its valuation with the data above.
Joshua Seims then found a solution to measure the valuation of Bitcoin, by comparing it to gold market capitalization and currency.
The value of a country's currency will certainly continue to decrease due to inflation. The US dollar itself is recognized to have decreased by 1 to 2% a year. Not to mention, facts have proven that conventional currencies are very vulnerable to collapse due to various problems in a country. For this, we can reflect on the case of Venezuela, Greece, Zimbabwe, and Cyprus.
The progress of civilization and technology can also drive the process of decreasing the value of conventional currencies. Although the effect is not as fast as inflation, this development can already be felt through the growth of online transactions that demand more virtual currency than conventional roles. If the current situation continues to move at the same level in the foreseeable future, it is not impossible that we will see conventional currencies becoming increasingly abandoned. Instead, virtual currencies like Bitcoin will find it easier to get a place in the wider community.
I very confident in the future of cryptocurrencies because the global community will increasingly want an easy and instant thing. and that includes all matters including earning income. they will continue to innovate in the future with many things including trade, economy and the medium of exchange. for example in my country today, Indonesia, they make a payment regulation on the highway that we call toll. here conventional money does not apply, whatever we have will remain in vain, they apply for payments with what is called e-money. we here will not discuss the payment regulation system, but rather look at technology and its use. in other words, this is the beginning of digital payments made by the government to the public.
with this, we can at least figure out what will happen to the payment system in the future, and the closest to the system is of course cryptocurrencies. it is not impossible if later in the future there will be a system that regulates all payments in certain countries only with cryptocurrencies. why cryptocurrencies? because only cryptocurrencies have fast and instant systems. and that I think is very necessary to support the acceleration of global economic growth.
Are Altcoin and ICO included in global economic growth?
all things can happen, with the number of new altcoins and ICOs that are currently developing, it is not impossible in the future that all companies in the world will use ICO as a means to get more investors, the problem here is the increasing number of ICO scams that continue to haunt the investor. and it becomes a domino effect on the level of investor confidence about an ICO.
There are more than 1,000 digital tokens available, the ICO is basically a tool for fundraising. First, start-ups can create new cryptocurrency or digital tokens through a number of different platforms. One such platform is Ethereum and NEO which have a toolkit that allows companies to make digital coins. hen the company will conduct an ICO where retail investors can buy new digital tokens. They will pay coins with other cryptocurrencies like bitcoin or Ethereum
In the future there will probably be a payment instrument that is a refinement of cryptocurrencies that might become a global payment instrument, what do you think is the future of cryptocurrencies?
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