Ark Investments hass a series of financial products that are meant to target massive moves that come from disruptive technologies. To many, this is a very innovative company while others see the firm as a bunch of loons.
The focus of their research is on the moonshots that come from major paradigm shifts that society is going through. Over the next decade, I believe we are going to see technologies that radically alter how we live, work, and play.
Ark is noted for making some outlandish calls. This is probably why many who view things in the the traditional sense of things feel they are loony. It is rather ironic that the financial community does that since you would think they are the ones who understand the power of compounding. Nevertheless, when it comes to technology, most miss this point.
Exponential is the term that is used when referring to technological progress. Like compounding, it arrives at a much different place as compared to linear steps. This is why some of the outlandish numbers like $7,000 Tesla comes from their reports.
Nevertheless, in this video they list the 5 big ideas they believe will take hold for 2020. The video covers Bitcoin as the last item. If you don't want to watch the entire video, that part starts at roughly 4:10.
My take is that I would replace Bitcoin with cryptocurrency. I agree about the idea of an alternate financial system especially for payments. However, I am not one who feels there is only going to be one form that is used. We will see thousands of different currencies used all over the world. People will be gravitating to wherever they want.
It is good for cryptocurrency to starting getting some mainstream attention, not for its ability to moonshot, yet for how disruptive it truly can be. We are on the cusp of seeing something completely new as an alternate financial system is constructed.
The ability to operate without permission nor third party entities is radical. Much of the financial system is nothing more than companies that exist to facilitate transactions. This is highly profitable when you consider that Visa takes between .5%-2% per transaction. While each might not amount to much, it all adds up to some big numbers.
This costs consumers billions simply because merchants have to charge higher prices to cover the cost of this service.
While it is not always obvious, this space is starting to garner a lot of attention. Over the next few years, I expect a major jump in the usage of cryptocurrency. As development keeps forging ahead, products are going to be coming out that millions of people are going to start using. This will happen without notice until one day we look up and there are hundreds of millions of people involved.
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Posted via Steemleo