Building On A Bank-less Economy

It's however a shy topic but it's quite a surprise how many people are still speaking of it. Notably, the world around the system of governance still believes in an economy ruled and distributed through these corrupt central institutions. I was on a while ago, I saw a headline on the US crypto regulatory process, a bit of acknowledgments may have been given to stablecoins, but I figure this is only because the authorities have figured that this is the only route through which they can amount some influence on the network of freedom.


Crypto is built to appreciate its risks, but Fiat depreciates with its obvious loopholes. The world may be made to believe that regulations have helped protect the financial system. Well, that was the initial plan, but true protection can only be achieved when what needs protection is in the hands of the owner. FDIC chairperson;

Establishing clear regulatory expectations will be paramount to give this market an opportunity to grow and mature in a responsible manner

Yea, this is how blind they may actually be to see what truly is restricting or should I say "prolonging" the mass adoption of crypto and blockchain technology. Regulations is nowhere near a reason, crypto education is lacking in most parts of the world, this is something I however appreciate projects that make attempts to reach out to various locations and enlighten the people, Cardano, I think has some projects to run in Africa, though it ain't a reason or an attempt by me to shill the project, it's rather a shout out to the effort, because every little push counts.

If we're being real, Stablecoins have the most influence on the bitcoin market specifically, that's from a limiting angle. A Stablecoin crash is a bitcoin gain. People are driven to assets not because it's said to have Fiat-backed reserves, but because it actually survives the bear atmosphere, keeping people's financials in a safe zone.

According to McWilliams, stablecoins have many potential benefits to consumers, such as faster, cheaper, and more efficient payments. However, she claimed that if “one or more were to become a dominant form of payment in the United States or globally” there could be significant effects on that country’s financial stability with funds no longer being held in insured banks.

This is so old school, my guess is that eventually, the authorities may be able to place their hands on Stablecoins backed by Fiat, but crypto users will path away from it greatly. When the world is more enlightened on the merits and appreciative nature of cryptocurrency, most investors will give zero attention to Fiat promoting entities. The world is moving towards a bank-less economy, people will learn to move away from the current markets of lameness to a more profitable economy.

Posted Using LeoFinance Beta


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