It would be extremely difficult to imagine a world without cryptocurrencies in the future. Cryptocurrency has taken the world by storm. Digital currency is drifting away from the mindset of people from the traditional banking system.
Evaluating the rise and decline of stocks for the month or years may be an easy task. This is possible because studying stocks comes easy to experts, as this is what they have been doing for so long. Experts are familiar with how different stocks work and can easily foresee their future. The workings of stocks have been more or less similar for ages.
However, predicting the future of digital currencies is slightly complicated at the moment. The reason being that is because it is a relatively new concept in the financial world. It will take some time to form conclusions on the future of digital currencies.
Also, experts have divergent views on the future of digital currencies, particularly with regard to Bitcoin. Some of them believe that digital currencies will change the entire financial dealings scenario. The concept of money for people will change with digital currencies. While other experts, hold the view that cryptocurrencies are a risky bubble, which can blow up at any moment leaving people shattered.
Nonetheless, it is highly impossible to imagine a future without digital assets as they have gained the confidence of retail investors and the institutional sector. Everyone seems to be obsessed with this digital currency. To them, it is the gateway to getting rich overnight.
Frederick Kaufman and Ivory John are the two most prominent experts on cryptocurrencies. According to them, crypto would look something like this in the next 50 years.
Ivory John is a certified financial planner and founder of Delancey Wealth Management. He thinks that digital assets will have a devastating effect on the established financial system. This is likely to happen because cryptocurrency is very efficient. One of its most efficient traits is enabling quick transfer of funds anywhere around the world. This transfer process is cost-effective and not affected by currency fluctuations. He believes that in 50 years bitcoin might make people really rich and in 50 years. He also said that in 50 years bitcoin might also get replaced by some new technology.
Frederick Kaufman is an author of a book titled “The Money Plot: A History of Currency’s Power to Enchant, Control, and Manipulate”. Kaufman stated that even before 50 years dollar and crypto will have a lot of commonalities. The dollar will hold a corresponding relationship with crypto more rather than with silver and gold. The digital assets are here to stay for the long haul. In the future digital world, the need for digital money will only speed up. Bitcoin’s value as a strong investment will also only increase with time.