It is a fact that cryptocurrencies have been at the forefront of the news media in recent years, with more and more people investing in bitcoin, ether and other such digital currencies. The position they will have on the investment map, but also in everyday life in the coming years is a burning issue of the market.
Some estimate that they will forever change the way we understand and interact with money, and others warn that this is a dangerous bubble, says a CNBC article. Market experts have described how they see digital currencies 50 years from now.
Ivory Johnson, certified financial planner and founder of Delancey Wealth Management
“Cryptocurrencies will disrupt traditional funding, because one of their most important benefits is the ability to effectively transfer cross-border payments with little or no delays or fluctuations in foreign currency. As far as bitcoin is concerned, 50 years is a long time and the token could either become a global reserve currency or the next AOL that made many people rich until the best technology surpassed it.
Frederick Kaufman, author of “The Money Plot: A History of Currency’s Power to Enchant, Control, and Manipulate”
“Long before 2071, the dollar will have more in common with a crypto than with silver or gold, so we do not need to question the longevity of encrypted algorithms as stocks of value and exchange. All money is a form of encryption. It was like that from the beginning and as our lives converge more and more with the digital universe, the desire to invest in tokens can only accelerate. Ironically, this impulse will connect us with primitive instincts and will have its role in keeping us human.”
Dan Egan, Vice President of Behavioural Finance and Investment at Betterment
“Cryptocurrencies like bitcoin have proven to be useful for money laundering and speculation and are unlikely to go away. But where and how we will generate energy to meet the demand of a growing cryptocurrency market is worth considering. As well as whether the state actors that consider digital currencies as a competitor of documentary money, will make them even more as commodities of the black market”.
Dragan Boscovic, Founder and Director of the Blockchain Research Lab at the University of Arizona
“The central bank authorities are working on developing regulations for cryptocurrencies. They recognise that digital currencies come from digital economy and will therefore become mainstream over the next 10 years.”