World economy is now being powered by cryptocurrencies.

[Dimitri94]

People's lives have changed a lot since the advent of cryptocurrency. Investing in crypto in particular has produced enviable results for many. If a person improves, it contributes to the improvement of the society and at one point the country. At present Cryptocurrency is leading the world directly and indirectly which will be visible in the future. Today I will discuss the role of crypto in global financial development. How this cryptocurrency is helping the entire global economy.

                                                                        

Easy and cost-free transactions: Cryptocurrencies can be transacted more easily than banks. Due to its reliance on blockchain technology, there is virtually no comparable bank. Transactions can be completed with little cost. Another advantage is that transactions here cannot be deleted. So, all types of information are available. There is no room for cheating. You can make any transaction at any time.

As a solution to hacking problems:
The cryptocurrency industry is currently providing investors with excellent security options. Hacking is not possible using normally in blockchain technology. However, one must have a good understanding of how to operate these security options. A newbie must use crypto after gaining sufficient knowledge. Currently, the world's biggest companies have already taken all kinds of measures to use cryptocurrency.
                                                                      
Crypto banking benefits for poor countries:
Currently, banking systems are in operation in all countries of the world. But customers of all countries are not getting full bank facilities, many of them are out of bank facilities. Cryptocurrency is a good option for them. They can profit by investing in crypto. He can enjoy this benefit from any part of the world. It is not just one person who is benefiting here. Through this, the country is making great progress. Developing countries are still lagging behind if they can implement it well then the country can become more developed quickly.

Importance of crypto in financial activities: big companies of the world are now paying special attention to crypto. As a result, they are encouraged to invest in cryptocurrencies and some companies are already accepting their payments in crypto and thus they are growing more and more day by day. However, not all companies will approach this in the same way. A lot of companies that didn't get involved in crypto on their own terms are coming back.

Cryptocurrencies are being discussed positively today due to various reasons. Although there are some downsides to it, if there are more good things ahead, they should definitely be prioritized. All in all, cryptocurrency will gain more public support in the future and will play an important role in all types of financial activities in the world.

Do you think that within 2030 we will find crypto currency almost everywhere in the financial sector?

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[BIT-BENDER]

As a solution to hacking problems:
The cryptocurrency industry is currently providing investors with excellent security options. Hacking is not possible using normally in blockchain technology. However, one must have a good understanding of how to operate these security options. A newbie must use crypto after gaining sufficient knowledge. Currently, the world's biggest companies have already taken all kinds of measures to use cryptocurrency.                                                                 

Hacking is very much possible in Crypto-currency there has been lots of times individuals wallet was hacked and the hackers made way with the individuals funds. The case in the link below is one of many
https://bitcointalk.org/index.php?topic=5432665.0

Also crypto-currency exchanges has been target for hackers and in some occasions they have been successful and also made way with funds. This isn't to discredit Crypto-currency but to raise the need for you and others that think crypto is a safe heaven to have a rethink and consider being more focused on security because it can happen to anyone who falls victim.

[panganib999]

Crypto surely had its ups from the past and we're now proud enough to say that it's got its own economy now, but on that note I wouldn't be so hasty as to say that the whole world is now being powered by cryptocurrencies, especially since crypto is still massively dependent on its speculative nature for survival. I say that at best, we have gotten from being a measly asset that is dismissed by many to a trillion-dollar industry that's able to change the lives of many people around the world in one way or another. It's great enough as it is and we're sure to experience even more amazing things in the future. But let's stay grounded for now and remain humble despite the constant successes, we're still at the few laps of the bear season after all and we're not even sure how long this will go for.

[usekevin]

The World economy was purely depend on the cryptocurrency now,the reason behind this was many people now earning using the cryptocurrency.Some people earning from the cryptocurrency trading,some people by using their social media account and earning some tokens.Some also earning from the forum campaign payment,by many ways people earning crypto currency.The same money was used by the people for using the services in their country.So they are paying the certain part of earning money for TDS and some for the service received from the society.

[stompix]

World economy is now being powered by cryptocurrencies.

Yeah right, some don't realize the size of the outside world! What's powering the global economy, 400k transactions a day, and a market cap smaller than Norway's GDP? There is such a long way to go till you can even remotely claim this it just doesn't make sense right now!

Hold your horses, Bitcoin hasn't grown to even 5% of its potential.

Cryptocurrencies can be transacted more easily than banks. Due to its reliance on blockchain technology, there is virtually no comparable bank. Transactions can be completed with little cost.

Depends on where you live and what kind of transfer (not transactions as you don't transact banks!), if it's the same bank or national bank the banks win, if it's a transfer outside the country BTC wins, if there are large personal sums moving out of the country, you wouldn't want to be using banks at all.

The cryptocurrency industry is currently providing investors with excellent security options. Hacking is not possible using normally in blockchain technology.

In theory, it is possible, not "hacking" but different types of attacks, also you shouldn't generalize, some shitcoins blockchains that are heavily centralized or rely on just a bunch of nodes are just as susceptible to attacks as banks, remember the DAO hack, the ETC attack and let's not even mention all the shitcoins that die each week because of bad programming.

Hacking is very much possible in Crypto-currency there has been lots of times individuals wallet was hacked and the hackers made way with the individuals funds. The case in the link below is one of many
https://bitcointalk.org/index.php?topic=5432665.0

If you go by personal cases then it's impossible to create a bulletproof system, soon for later even with the most secure design somebody will make a mistake, but that will not be the fault of the protocol itself, in Luke's case it was his own setup that was faulty, just as you won't be able to blame the bitcoin blockchain or code for a bug in Electrum.

[n0ne]

2030 is very near to think of the economy having complete dependence on cryptocurrencies. The possibility depends much on the adoption taking place around the world. In some part of the world it is possible to see good support and increased usage. This will surely have a difference in contribution between different zones. Bitcoin is easy and cost free transaction system, but when are they used. When sanction imposed over Russia, the country people used cryptocurrencies. This is considered an alternate than a real fashion.

[Mate2237]

The World economy was purely depend on the cryptocurrency now,the reason behind this was many people now earning using the cryptocurrency.Some people earning from the cryptocurrency trading,some people by using their social media account and earning some tokens.Some also earning from the forum campaign payment,by many ways people earning crypto currency.The same money was used by the people for using the services in their country.So they are paying the certain part of earning money for TDS and some for the service received from the society.

I don't think the world economy is depending on cryptocurrency for now. The world economy is on own it own looking at how bitcoin is going to be. The world is still afraid of cryptocurrency specifically bitcoin because of it decentralized nature and it value in the stock market. They are afraid that bitcoin might take over the economic system of the world and when that happens, it will affect their personal interests.

Cryptocurrency has elevated plenty lower class people to middle class. And cryptocurrency is a threat to the fiat economy because of the bitcoin protocol and bitcoin network. Because the world leaders can not have access to the network to control the technology to favour themselves.

[Catenaccio]

Cryptocurrency does not help many people richer, does not help a nation richer.

It mostoy help scam founder, developer teams and scam influencers richer. Many newbies, investors lost money in cryptocurrency.

They even buy bitcoin, that looks a good decision, but stored bitcoin on centralized exchanges and lost coins to scam exits, bankruptcies or scams from close source custodial wallets.

[blockman]

Do you think that within 2030 we will find crypto currency almost everywhere in the financial sector?

IMHO, that's still not that much of years for the development in terms of adoption. That's still considered as a short time but we don't know what will actually happen.
What we're just sure about with cryptos is that they're growing faster, especially with the main thing in this space which is Bitcoin. We might be getting the idea right now that many companies in the financial sector are have their share already on it. Some may go crazy as the others that's been known to be investing millions to billions. It is what it is but 7 years from now on, there could be a huge growth that we have never expected and the market will grow vastly and I'm optimistic with it which it goes with two halvings by that time.

[Fiatless]

                                                                   
Crypto banking benefits for poor countries:
Currently, banking systems are in operation in all countries of the world. But customers of all countries are not getting full bank facilities, many of them are out of bank facilities. Cryptocurrency is a good option for them. They can profit by investing in crypto. He can enjoy this benefit from any part of the world. It is not just one person who is benefiting here. Through this, the country is making great progress. Developing countries are still lagging behind if they can implement it well then the country can become more developed quickly.

The decentralized nature of Bitcoin gives everybody equal and free access to its network from any part of the world. With robust mobile and internet connectivity, India has one of the fastest-growing Fintech industries in the world. Yet about  22% of Indians are unbanked as of 2021 and a recent report put the number at 190 million people. Cryptocurrency indeed can be a banking option for them to save and also make some transactions.

But it would be wrong to assume that cryptocurrency is the solution to all their economic problems. Cryptocurrency alone can not make an underdeveloped nation develop. We should understand that cryptos are alternative currencies and investments but not a quick-fix economic development tool.

Do you think that within 2030 we will find cryptocurrency almost everywhere in the financial sector?

Currently, cryptocurrency is a big player in the global financial system since it is used either directly or indirectly in many parts of the world. To challenge the progress of the crypto industry many central banks have introduced CBDCs. These CBDCs have similar qualities to altcoins due to their centralized nature, but none can be decentralized like Bitcoin. So for anyone to enjoy the true benefit of privacy and security Bitcoin is the only option. With the recent improvement in bitcoin awareness and adoption, by 2030 more nations, corporations, and individuals will embrace the technology but I doubt if it will spread to everywhere in the world. Most nations might still be lagging due to stringent laws and infrastructural deficits.

[OcTradism]

Currently, cryptocurrency is a big player in the global financial system since it is used either directly or indirectly in many parts of the world.

Total market cap of cryptocurrency market is still very small compares to market cap of NYSE or NASDAQ.

Comparison of the New York Stock Exchange (NYSE) and Nasdaq from January 2018 to July 2023, by market capitalization of listed companies
In July 2023
- NYSE $24.97 T
- NASDAQ $22.21 T.
Cryptocurrency market cap is $1.04 T and it is actually smaller because of many scam altcoins.

To challenge the progress of the crypto industry many central banks have introduced CBDCs.

CBDCs are created for many purposes, not only to challenge cryptocurrency industry. Most important CBDCs help governments to observe and tax their citizens better.

These CBDCs have similar qualities to altcoins due to their centralized nature, but none can be decentralized like Bitcoin.

They are centralized like altcoins but worse as totally in hands and controls of governments. They can freeze your CBDCs anytime even in your accounts.

[Fiatless]

CBDCs are created for many purposes, not only to challenge cryptocurrency industry. Most important CBDCs help governments to observe and tax their citizens better.

CBDCs were created because of the existence of crypto. The government is creating something similar to attract more and my observation was based on my experience in my country. The sole reason why the government of my country created CBDC is to encourage people to abandon crypto for the central bank digital currency. There were campaigns in the media about the benefits of CBDCs and the risks of using cryptocurrencies.

They are centralized like altcoins but worse as totally in hands and control of governments. They can freeze your CBDCs anytime even in your accounts.

None is better because they are both centralized. Some altcoins are totally under the control of individuals.

[posi]

Crypto surely had its ups from the past and we're now proud enough to say that it's got its own economy now, but on that note I wouldn't be so hasty as to say that the whole world is now being powered by cryptocurrencies, especially since crypto is still massively dependent on its speculative nature for survival. I say that at best, we have gotten from being a measly asset that is dismissed by many to a trillion-dollar industry that's able to change the lives of many people around the world in one way or another. It's great enough as it is and we're sure to experience even more amazing things in the future. But let's stay grounded for now and remain humble despite the constant successes, we're still at the few laps of the bear season after all and we're not even sure how long this will go for.

Overall, the cryptocurrency industry has huge potential and if we exploit and focus on developing it seriously, it will play an important role in the future economy. But I agree with your realistic assessment, currently cryptocurrency is just a speculative market so it is not entirely correct to say that it will have a positive impact on the economy. Apart from bitcoin, which can become a means of payment, the rest of the market is purely speculative, with no real applications or use cases. So, to be fair, cryptocurrencies haven't brought much impact to the national economy, let alone the world.

[Don Pedro Dinero]

Although the OP has written a well-written post on the subject, I do not agree with what he says. In an environment of rising rates, economies in general are not very bullish, and we cannot say that cryptocurrencies play an important role in the economies of most countries.

Yeah right, some don't realize the size of the outside world! What's powering the global economy, 400k transactions a day, and a market cap smaller than Norway's GDP? There is such a long way to go till you can even remotely claim this it just doesn't make sense right now!

LMAO

The fact is that the cryptocurrency industry is relatively important in some countries, and will grow in the future. But today we should not exaggerate it.

[michellee]

Maybe not yet. The economies of most countries are not yet dependent on crypto. They still operate as usual and depend on government regulations, which are always changing. But if we talk about the future, especially for 2030, it can happen provided there is awareness from many people, especially the government, to start using crypto.

But if people, including those in the government, still rule out crypto presence and don't want to join in, we will still be where we are today. Crypto prices may still rise and fall, but the number of people joining may not have increased significantly.

People need something to start joining in crypto, like a sudden increase in Bitcoin price to $50k or even creating a new ATH immediately. They will only realize that crypto, especially Bitcoin, can soar very high. That's where they started thinking about using crypto. But for support, it will be bigger in the future.

[bitzizzix]

Maybe not yet. The economies of most countries are not yet dependent on crypto. They still operate as usual and depend on government regulations, which are always changing. But if we talk about the future, especially for 2030, it can happen provided there is awareness from many people, especially the government, to start using crypto.

But if people, including those in the government, still rule out crypto presence and don't want to join in, we will still be where we are today. Crypto prices may still rise and fall, but the number of people joining may not have increased significantly.

People need something to start joining in crypto, like a sudden increase in Bitcoin price to $50k or even creating a new ATH immediately. They will only realize that crypto, especially Bitcoin, can soar very high. That's where they started thinking about using crypto. But for support, it will be bigger in the future.

This is what I hope for the next halving because people will be interested if they see a significant increase and this will make them curious, causing their interest in Bitcoin.
However, I believe that as time goes by, Bitcoin can help the economy of a country or individual due to its continued growth, especially for those who are familiar with the digital era. And there are still many people who don't understand Bitcoin, don't even know it at all, especially in rural areas.
Because, this still takes quite a long time, unless supported by the government. And it's only a matter of time.

[Despairo]

This is what happen when someone is only understand about the theory than practical.

I live in a country where the minimum wage is $400 and I will break down my daily spending. Let's say every Bitcoin transaction cost for $0.5 every transaction, in the morning I need to buy a cup of coffee for $0.75 and a sandwich for $1, in the afternoon I need to buy fried rice for $1.5, then in the evening I need to buy cookies and bread for $1.5, I also visit a gas station to buy fuel for $5.

This mean my daily spend is $0.75 + $1 + $1.5 + $1.5 + $5 = $9.75, this what the cost if I pay using cash or digital cash.

If I pay with Bitcoin, then my daily spend would be $9.75 + ($0.5 x 5) = $12.25

Which one is cheaper, using cash or Bitcoin for daily spending?

[mindrust]

Do you think that within 2030 we will find crypto currency almost everywhere in the financial sector?

It is already everywhere in finance. Almost every broker firm I know enabled crypto trading on their platforms.

https://grayscale.com/products/

Grayscale has a trust fund for btc and many alts. You can nowadays have an exposure to crypto without even having a crypto exchange account or mining crypto. Obviously by 2030, there will be even better and more advanced products. A few ETF's are on their way to get an approval from the SEC as I am writing this post.

[bittraffic]

2030 is more than 5 years. But even today in the neighborhood I can find someone who knows about cryptocurrency just like the guy who plants veges nearby, he has idea about crypto and have tried XRP.

Basically what is popular today will also be just as casual as buying something from the shop. Crypto will be adopted over time. And prices will also jump up as more are going to be holding.

[GeorgeJohn]

Actually cryptocurrency is one of the currencies that have much firm and I believe that cryptocurrency have many ways of its operations of the way people campaigns about bitcoin and it get influenced, the world economy is now powered with cryptocurrencies, I will not be astonished when I hear that because I know from the onset that bitcoin as it own have the power to overtake other currencies as future goes on, because its faster in transaction and its an asset you can invest to, some of the civilised government or countries use Bitcoin to accelerate some of their financial problems by investing in bitcoin with proper monitoring of the market.