BENEFITS OF THE BLOCKCHAIN TECHNOLOGY

BENEFITS OF THE BLOCKCHAIN TECHNOLOGY

Couple of years ago, Bitcoin moved blockchain technology into the real-world, demonstrating that the digital technology can be used in the real world and we have seen a lot of organizations testing how they can make blockchain work for them.

Multinational organisations like IBM, government agencies, charity and non-profit organisations are all using blockchain to improve existing processes and enabling new business models.

The value of blockchain stems from its ability to share data in a secure and fast way without any one entity having to take responsibility for safeguarding the data or facilitating the transactions.

Over the past months, the amount of time spent on the internet and digital investments have continued to rise due to covid-19 as investors are looking for digital investment opportunities and many are already getting return on investment.

Some Digital and currently experts aired their views on the future of #blockchain and #cryptocurrency.

Natalie Smolenski, Head of Business Development at Hyland:

The pandemic has clarified more than ever that central banks are committed to printing their way out of economic crises, which raises twin dangers of inflation and devaluation of the currency, a process that erodes both real wages and people’s life savings. As a result, people around the world are turning to bitcoin as a long-term store of value. While its price is certainly volatile, over time it shows an unmistakable upward parabolic appreciation, whereas fiat currencies, including the dollar, have steadily lost much of their value since the mid-20th century.

Seyi Oke, Chief Marketing officer: Rentalchain

Large-cap cryptocurrency reached all-time highs within the last few months; including Bitcoin, Ethereum, Binance Coin, and Cardano to name a few. We’re now seeing athletes being paid in crypto, card brands allowing settlement via crypto, large investment firms adding crypto to their portfolios, and even governments adopting crypto as legal tender.

Cleve Mesidor, founder, National Policy Network of Women of Color in Blockchain:

What has been promising is seeing a greater number of women explore investing in bitcoin and Black and Latinx creatives tapping the benefits of non-fungible tokens (NFT). Cryptocurrency is a new financial asset class that was not created by or for the wealthy. So, it has been interesting to see CEOs like Elon Musk and Wall Street executives try to inject themselves into bitcoin’s narrative. Despite all the noise, the truth is cryptocurrencies are accessible and available to everyone, unlike the traditional financial system, and that’s a game changer.

Rob Chang, co-founder and CEO, Gryphon Mining:

I believe we will look back at this period in time as the point where the general public was given the opportunity to give cryptocurrencies a real hard look and learn that coins such as bitcoin are not “magic internet funny money” but instead legitimate, decentralized ways to transact value without the fetters of banking institutions and government control/devaluation.

To learn more on how to invest in blockchain visit: www.rentalchain.co.uk

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