From Cash To Crypto – Are You Ready?

From Cash To Crypto – Are You Ready?

New Technologies has always been a main driver for social changes globally. With new technology too comes resistance. Technology however, is not the only way social changes have been stimulated, there have been reasons such as: wars, natural disasters, plagues and our most recent one the Covid-19 pandemic.

Yes, we may be sick and tired of hearing about it, but, the reality is, it is happening and it will change the way in which we globally do business whether we like it or not.

Since the outbreak of the Covid-19 pandemic many industries have suffered drastically, with the losses and negative aftermaths being imminent. However, cutting edge technology has come to the rescue.

Digital Currencies

Digital currencies have been a skeptical area for many, but, from recent events they have become a more popular and mainstream way of life. We are now seeing a higher demand than ever of people wanting to enter into the digital currency and asset realm for both ordinary users and personal and institutional investors. Global adoption of digital currencies has already started.

Fiat Currency Becoming A Thing Of The Past

When Covid-19 changed the world and how we live and use fiat currencies on a global scale paper money has been transformed. We saw China physically washing all of their paper money in order to disinfect and slow down the outbreak. In European countries, due to the horrifying number of deaths, people are scared to use paper money and have changed their currency to digital to protect themselves.

As a result of this the interest in cryptocurrencies has quickly accelerated. In a survey conducted by the European branch of bitFlyer crypto exchange, based on 10,000 respondents across 10 European countries, the survey revealed that two out of three of the population believes that cryptocurrency is here to stay.

Crypto Is Growing Globally

The crypto market and the demand for cryptocurrency as the new form of global currency has been growing noticeably in interest since especially the beginning of 2020.

The amount of Bitcoin ATM’ globally has surged past 8,000, institutional investors are turning to the decentralised finance and every people are turning to crypto as a risk diversification.

As a result of all of this we now have a shift. Crypto has gone from an unknown asset for speculation to an asset that is able to shelter us from global crisis. It all comes down to the Blockchain technology behind Bitcoin (BTC) being decentralised and open. It is now very clear to the everyday person that digital currency is the safest form of payment for anyone.

As the way we live and work has now changed drastically, we can expect the way we pay for things and do business to change also. We are already seeing many businesses changing the way their employees work, with most seeking to keep ‘work from home’ and online as an option, now they have seen it can be successful.

Society will further transition as we have seen previously with shifting from cash to card payment, and now we will see the shift from card payments to crypto.

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