How Will the Future of Cryptocurrencies and Blockchain Proceed?
All expected that in 2017, Blockchain would dominate the world. The investors spent about $6.2 billion in 875 related startups to this technology and tools, and Bitcoin was able to find an effective role in the world of cryptocurrencies. In a short time that Blockchain and cryptocurrencies have come to being, they have reached many achievements and a relatively good fame. Some predictions are needed in confronting with each technology and new phenomenon. Through examining parts and capacities each phenomenon has, its outlook should be thought about and evaluated. There are some predictions about the future of cryptocurrencies and Blockchain; some of them will be addressed in the following parts. Stay with us.
1. The Presence of Cryptocurrencies Terminates the Dominance of Dollar
It has been some years that the USD rules as the main actor in the international transactions, but there is an end for each throne. Some believe that cryptocurrencies and Blockchain technology can cause dethroning dollar. With a decentralized system and the option to use different cryptocurrencies, the investors will not limit their activities to employ dollar anymore. In such a condition, the world proceeds toward transactions wherein there will be no news about earning huge benefits from an actual currency.
2. Stablecoins Will Be Pervasive
Stablecoins, too, are considered one of the subsets of cryptocurrencies. They are actually cryptocurrencies which are supported by actual currencies like the dollar. Such cryptocurrencies will be very much valuable to be invested in, and the states will welcome them. So we should expect its prevalence in the near future. The possibility of stablecoins replacing money and actual currencies in international and local transactions will be very high.
3. Blockchain Applications Will Be Developed in Different Fields
Blockchain technology is not limited to financial and economic affairs. Through combining it with other technologies, this industry can be used in different fields and grounds. For example, in computer and digital game industry, Blockchain can be applied. The existence of a decentralized network featured by trading different currencies is greatly necessary for the computer games industry, and it is comfortably feasible through Blockchain technology. This new technology and cryptocurrencies traded in its infrastructure are used in various fields; as a result, we may see the presence of Blockchain and cryptocurrencies in different areas.
Cryptocurrencies and Blockchain are developing. The play and scenario which propel them toward growth and maturity are very sensitive. Since this new phenomenon has not reached puberty, every measure to discipline and legislate it can halt its life cycle. Therefore, some countries, such as the U.S., are willing to bear Blockchain and cryptocurrencies. In fact, all want to see it reach a fixed point and wouldn’t like to be the first to be the leader in the wrong way with all its losses imposed on themselves.