Current economic trends are encouraging more and more people to engage with alternative financial systems. Blockchain technology and cryptocurrencies are on their way to trigger a real revolution in the financial world. Blockchain promises independence, safety, and precision. It provides the basis for financial services, without the risks and costs associated with traditional service providers and their middlemen. The omission of these central units enables highly effective investment environments without significant administrative effort.
In addition to low cost, blockchain offers even more key benefits:
- First of all, there is the possibility of very fast transactions, without the usual restrictions known from centralized systems.
- Blockchain does not need any regulatory mechanisms as it monitors itself (in the form of its users). Self-initiating smart contracts ensure that both parties to a transaction meet their obligations, only then will the transaction be executed.
Reliable and secure identity verification guarantee security for all users.
Worldwide acceptance of crypto
In many countries, especially Asian countries like Korea and Japan, but also on the American continent and Europe, crypto has become a payment method with rapidly increasing acceptance. Many nations, businesses, and people have access to cryptocurrencies as a means of payment or investment opportunity, and the number of users and investors is becoming more day by day. In my last blog post, I wrote about what has to happen next to speed up this adaptation curve.
However, cryptocurrencies are already a popular instrument for international money transfers and crowdfunding (ICOs). People are using crypto as a way to save money, invest in new projects and millions of investors are trading around the clock in the highly volatile crypto markets. Add to that the enormous investment in the technology behind crypto, the blockchain. Thousands of research projects, business units, and projects around the world are committed to developing new solutions and applications based on blockchain.
It is important to mention that the infrastructure that enables cryptocurrencies in the first place has reached new levels of acceptance. As a result, we see many amazing developments in the field of blockchain-based payments and decentralized applications (dApps). Even though many critics disagree and there will always setbacks in forms of attempts and experiments, a closer look reveals that real value is created here, in monetary terms, but also for users of these applications and services.
Being an early adopter feels great
As groundbreaking as Blockchain technology may be, one rule applies to all innovations: those who recognize the disruptive potential of a new technology, accept change and embrace it, usually end up being the winners. Today, technology continues to evolve at a tremendous pace; this makes it is even more important to be one of the first to recognize and participate in a trend. Those who ignore change and cling to their traditional methods are most likely among those who will be relentlessly left behind.
Let’s remember Kodak, a company that has resisted recognizing the advances in digital photography, or blockbuster video that did not want to admit that you do not have to provide thousands of offline stores for lending DVDs. In the beginning, it seemed too costly and not worthwhile to invest in these new technologies. When these „short-term trends“ turned out to be disruptive innovations, it was usually already too late. Everybody knows where Kodak and Blockbuster stand today; they do not matter anymore (at least not on the market they used to master). There are many examples like Kodak’s and Blockbuster’s, and with every wave of innovation, there will be new ones created. What do we learn from this? Keep your eyes open and always be prepared, even if at first, something does not look like it could ever play a big role.
This doesn’t mean you should blindly follow every trend. A much more far-sighted approach to deal with these new technologies would be to explore them, weigh them up, and then adapt them early. The most important thing is to be open to new challenges and to judge them partly critically, partly enthusiastically. Then you succeed in becoming a successful early adopter.
Great investment opportunities
Sometimes it’s important to remember the trends of the past (not Pokemon Go or Crocs) and to see what opportunities you’ve missed. Bubble or not, wouldn’t you like to be one of the people who invested in the right internet companies early on? Of course, you would! While the development of the Internet has been anything but straightforward, there were still some courageous investors who have recognized the great opportunities and have laid out a foundation for their future prosperity, very early on.
20 years later, we are once again presented with much more possibilities than we can even perceive. If you are open to technological advances, you will quickly recognize trends and take advantage of them, becoming one of those early investors.
Crypto is one of those trends. Many people with different backgrounds have already seized the opportunity and invest in cryptocurrencies and blockchain projects. Some of them have become millionaires in this way and are continuing to invest in highly profitable assets as new investment opportunities emerge almost daily in this market.
Also, unlike traditional investment tools such as equities, investing in Crypto is fast, cost-effective, and virtually barrier-free. I have friends who started with small amounts (10-50 €) to take a first look at the market and understand its characteristics. Crypto is for everyone! Nobody is excluded, no matter where you come from and no matter how much money you have. This fact alone is worth an investment and one more reason why crypto is here to stay. I don’t say it will be easy, but it will happen.
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