Technological disruptions are the new trend dominating the world. Think about it, a smartphone is costlier than a TV, you prefer Cloud services over packaged delivery and unconsciously pick cashless payments option while making a purchase.
A similar trend, started not very long ago, back in 2009, was Bitcoin and Cryptocurrency, something which, after AI, took the entire world, especially the financial markets by a storm. It was all a Blockchain technology that inspired changing times and many others like it. With Bitcoin, even companies like JPMorgan & Chase launched their own cryptocurrency.
Now is the time to understand this new type of currency, its benefits and the future for it. After facing multiple issues, grand successes in value and featuring in the news daily, Cryptocurrency seems like it is here to stay, and one should definitely know what the future holds!
Increasing Investments in the field
With Blockchain technology improving and the constant development of its security measures, there will be a need for companies to start investing more in technological innovation to play catch up.
The whole point is to improve the operations, keep the system transparent and at the same time, become less worried and hindered by fraud and tampering. This will not only require research and awareness but also an understanding, especially of possible new innovations like Hybrid coins. This way, you will not only be able to walk head-to-head with your competition but also become a leader in the market and grab the first-mover advantage.
Popularity of Stable Coins
A new innovation, Stable Coins are developed as a hedging tool. The hedging is done to protect one against the potential decline of an underlying cryptocurrency, especially considering how dynamic the industry is. It is more like a fiat currency working as a stabilizer for these highly volatile assets by backing it with real assets.
Note that Stable Coins aren’t a type of cryptocurrency but an indirect trend that has erupted. It has the potential to work as a connector between crypto and fiat currency, working simply as collateral or a buffer.
Decreasing Price swings
A while back in 2017, Bitcoin faced a huge downfall in its prices and then re-bounced to the peaks in just a couple of weeks. The huge amount of price volatility made some investors a billionaire overnight while left many barehanded, and the entire market suffered the shock.
Over time, the currency has stabilized, only portraying subtle changes. This shows or hints that one can expect much more stability, better security, and implementation of better groundwork. There are many laws being passed, improvement in data handling and regulations to help stabilize the currency.
More available knowledge
Since cryptocurrency is a huge disruption that took many by shock, it requires a lot more research and know-how before being implemented or played with. This is the reason why there has been an increase in education resources available to the masses to understand this disruption. Sites like https://top10bitcoinrobots.com/ can save your day here.
Additionally, there are webinars, online tutorials, seminars and easily accessible reading material for the current generation to learn. Not just this, cryptocurrency also brings with itself more trading platforms, mobile apps, and secure spaces to let the cryptocurrency industry grow. Moreover, there are also efforts by businesses themselves to do better by providing courses and certificates like crypto tax experts to their staff, making them better acquainted with the current technology.
Diversified interest in Ripple
Bitcoin isn’t the only type of cryptocurrency out there. With developed interests in the world of crypto, Ripple or XRP has gained a lot of public interest as well. It is another payment system that works without the need for any third-party validation for banks and financial institutions to use for the local or international transfer of funds.
You must be acquainted with Ripple, its various products and its diversified functioning. It could be possibly one of the greatest investments in the future.
Increasing demand for security token offerings
One common fact remains, each investor feels differently about cryptocurrency. Some appreciate it, some have a distaste and others find it too risky. For this reason, there have been tons of effort to make things better and remove various security concerns that come with cryptocurrency.
One such way is STO or Security Token Offerings which is actually being endorsed by financial regulators. What sets STOs apart is that they are backed by company shares, dividends, and investor benefits while also being regulated by the Securities and Exchange Commission traders in the United States.
Another such way is Initial Coin Offerings or ICOs replacing IPOs, by providing cryptocurrency or a company’s coins in return for monetary help. However, due to fraudulent concerns, SEC might shut down the same, leaving STOs to lead the way.
Artificial Intelligence Accounting
With cryptocurrency come various other challenges like crypto-cost functioning which demands quality time for understanding this system. Even the best of accountants require hours and hours of hard work to comprehend the first level of this utterly complex system of accounting cryptos.
The reason why, over time, people will shift to AI-based accounting for providing much more efficient and smarter decision making. There will be a change in the duties of accountants who will need to be quick and extra careful, especially if the demand for crypto keeps increasing like it already is.
Infact, it is possible clients and investors will rely on accountants who instead themselves will shift to AI-based technology to save time and money. Automation is the future.
The future is bright!
With more and more crypto trading, the demand and supply for crypto will increase. It has gained immense popularity and found use in a very short period of time. This proves that the future is bright for cryptocurrency and if investors, businesses and employees need to find their own benefits, they need to adapt to, work with and learn about the world of cryptocurrency and where it will go, say five years down the line.
It is simple, more crypto trading, more investment, more accounting, and more concepts. The current population and the current amount of people willing to learn and succeed, it won’t take time for a company to replace anyone who doesn’t grow. These trends in crypto are bound-and-determined and are here to stay.
2019 brings plenty of opportunities and avenues for the world, be it machine learning, data analytics or cryptocurrency. Each of these is linked and work in tandem with each other. Hence, develop deeper knowledge, stay on your toes about the upcoming trends and you are sure to lead the herd!