Younger Canadians are more optimistic about the future of digital currency. Millennials are more likely to invest in cryptocurrency, so it should come as no surprise that this generation plans to retire earlier than the two preceding it. Think again if you believe cryptocurrencies are a fad or have already passed you by. The TRUE nature of cryptos is only now beginning to emerge. We've only begun to scratch the surface.
Crypto markets continue to be riddled with mysteries, but they are beginning to reveal theirs. The last few months of turmoil have demonstrated what Bitcoin and other crypto assets are good for: They are advanced globalization tools, luxury items for complex, well-functioning markets, not defenses against hostile governments' depredations.
The future of cryptocurrency assets lies in assimilating into the financial and regulatory establishment rather than rebelling against it. If the majority of the world is going to hell, crypto will suffer. Crypto will be most effective when used in conjunction with other financial networks, rather than as a replacement for them.
Consider some of the legitimate applications for crypto. Perhaps entrepreneurs will create a significant online metaverse that crosses national borders and allows for fruitful interactions, including commercial ones. For many transactions, particularly micropayments, crypto transfers may make more sense than attempting to process all transactions through existing dollar networks. At the very least, there is the promise that crypto will be faster, more reliable, and more secure.
DeFi's true potential is in lending across long distances, such as sending funds to the most talented entrepreneurs in Africa or Southeast Asia, or even Russia and Ukraine. That, like the metaverse, is unrealized potential, but it has been and continues to be a possibility. Consider any of dozens of other productive uses for crypto, which may be currently unnoticed or unimagined, just as NFTs were not "a thing" until very recently. These applications, like loans, will only see their best and most rapid development in a stable and globalized global economy.
Keep an eye out for upcoming regulations.
Over the last year, there has been a greater emphasis on cryptocurrency regulation. Though it is impossible to predict what will be enacted, it is important to be aware of what lawmakers are debating.
%20BBB.png)
