Will the third decade of the 21st century will make the cryptocurrency the main currency of the world? A question that has been circulating among the fellow traders.
The world is slowly and steadily recovering from the COVID 19 pandemic, while there are some other nations that are preparing themselves for a second wave, with all these going in the world, it is inevitable to save the economy while fighting the COVID 19.
When the crisis hit the world, the current currency system was not able to perform well, resulting in the financial break down of several nations.
When the crisis hit the world, the current currency system was not able to perform well, resulting in the financial break down of several nations. The break down was so huge that it is said that some of the nations have travelled back 3 years in terms of the economic conditions.
The outbreak of the COVID 19 was able to push the fiat currency to its limits and was able to show people its true limits. In the midst of the quarantine period when fiat currency failed to perform, people turned themselves to the digital currencies.
Mobile offensive attack on the global business
Mobile technologies have improved at an accelerated rate in the past few years. It is the mobile technology that has made it possible to use the mobile just like mini-computers. With such advanced mobile technology, mobile becomes one of the most used devices used for online surfing. With an easily accessible internet connection on handheld devices, online shopping becomes much more common.
With app optimization technology, companies have found a new way to engage with the audiences. It was 2015 when the companies started investing in their eCommerce website apps. Since then e-commerce and apps have never been apart.
How Blockchain is connecting Merchants and the others?
Blockchain technology is still in its initial phase and still far from being a total cure to all the problems faced by the companies. But it surely has the possibilities to overcome all the problems with the right implementations.
If you are well aware of the currency events happening in the market, then you would know that Amazon recently applied for a patent of a new DLT based system that tracks the supply of the goods.
one feature that helps the people build their trust in them is transparency. With blockchain technology, every small change is notified to every member of the network.
The recent supply chain management by Amazon is said to be an advanced version of the older supply chain management. This advanced management system tracker the supply of goods and products from production to the end-user.
With the help of this supply chain management system, every detail is kept in the blockchain network. This make the information transparent for every individual to see.
Role of the Stable coins
Technologies have certainly helped the eCommerce business to come up with new methods to sell their products but the supply chain management has been the same for many decades. The traditional financial system has now become an outdated system to cope up with the new trends.
The traditional methods have been putting extra pressure on the people with additional over herald cost as intermediaries’ parties are involved. However, with the blockchain technology, all the intermediaries can be easily omitted out.
No matter how well stable coins are regulated, people still use cash and credit card for shopping. But we can certainly predict that cryptocurrencies can be the next big thing in the 21is century.
Cryptocurrencies certainly have potential, but these potentials are locked due to out restricted practices of the cryptocurrencies. Once the people understand the right way of regulating the cryptocurrencies, all the locked potential will be unlocked for the people.
To understand the working of the Cryptocurrencies, you do not actually have to be a programmer. There are several companies that provide online platforms to help new traders. If you are interested, you can visit bitcoin future to know more.