We are on the verge of a new type of finance in the modern era, one that will use a variety of technologies to change the way we use and manage one of our most fundamental tools — money.
The days of withdrawing cash from an ATM, applying for a mortgage at a bank branch, or shopping at a department store are long gone. Almost everything is now digitalized. Many people conduct financial transactions of any kind entirely online.
But there is a bigger future for money, the early stages of which are now taking place. Cryptocurrencies and faster, more robust financial technologies are transforming our concept of money and challenging the financial institutions currently managing it.
Cryptocurrency is a digital token secured and transferred using blockchain technology. The most popular, Bitcoin, has a market cap valued at $317 billion as of November 2022.
Cryptocurrencies were on the rise during 2021; and 2022 —not quite well. Some say that 2022 is shaping up to bring more change. In the wake of the crypto exchange, FTX’s incident resulted in a global panic sell and plummeted the entire crypto market, especially bitcoin, from $20K to a constant $18K – $16K.
According to the Bitcoin content website 99Bitcoins, 17 credible news sources and celebrities have declared that Bitcoin will cease to exist in 2022, with the most recent article coming from the American Left-wing magazine Jacobin.
Although bitcoin has seen its lowest, people in developing countries have a completely different perspective on bitcoin. They are not purchasing bitcoin in the hopes of buying a 10-bedroom mansion in Los Angeles or owning a Lamborghini; they are buying bitcoin to survive.
Since cryptocurrencies aren’t regulated, no one can really tell if they would crash entirely to zero.
According to Google Trends, “bitcoin” was a trending topic. As much as the hype, Real Research launched a survey on this matter to gather further public information on bitcoin and its journey. Hurry and answer the public opinion survey on “Bitcoin Is Dead” on the Real Research app from November 29, 2022. After that, you will receive 40 TNCs as a reward.
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