Crypto is a novel technology. One that has impacted a lot positively, yet it still has a lot of potential.
Crypto will be the backbone of finance in the next 10 - 15 years. We are getting to that stage where crypto is being incorporated into a lot of big things.
In the past, people saw crypto as just a place where you can buy coins to make wealth a bit faster. Now, crypto is also becoming the place where you can manage wealth.
To explore this further, let's look at what crypto offers. Crypto has made it possible for people to send money around the world without any delay or difficulty. With the traditional means, you would have to face delays and wait for approvals to send money to faraway locations. It's worse if it's a huge amount of money. There's extra scrutiny.
With crypto, that's no longer a problem. Within minutes or even seconds, you're able to send money across nations.
Crypto has made it so easy to do a lot of financial activities that were otherwise tedious. In fact, more things are being made financial than before thanks to crypto. Tokenisation has been the game changer. Stocks have been tokenized, making it super easy for people to buy stocks on chain. No stress.
Real world assets have been tokenized. NFTs are also another way creators have been able to make benefit from crypto.
Honestly, the possibilities are limitless for crypto. Traditional Institutions are now getting involved in crypto because they realize the potential of such tech. With traditional financial Institutions getting involved, the place of crypto as a major player and backbone in global finance is undeniable. Many of the things we do in traditional banking is now possible on chain. DeFi is an example. Take a moment to think about how huge that is.
To add to it all, privacy is now a major feature in crypto. There are now chains dedicated for ensuring private transactions. For those individuals and institutions who aren't comfortable with their financial activities and holdings being public, this is a major boost. Crypto isn't just smooth and fast, your privacy can be guaranteed.
There's no doubt whatsoever that crypto will see exponential growth in the next 10 to 15 years. We are already on that path and it's only a matter of time now. I'm excited for what the future holds in crypto.
Check out the Indiaunited prompt for the week here
