Читать книгу Cryptocurrency All-in-One For Dummies онлайн

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The question of what the future for banking will look like can be both scary and exciting. Consumers can now pay friends through their phones almost instantly in almost any type of currency or cryptocurrency. More and more retail stores have begun utilizing cryptocurrency as a way to pay for goods and accept payment from customers. In Kenya, using cryptocurrency is now the norm. But this is still not the mainstream option for most of the world. Western markets are still in the early adoption phase.

Given that most individuals have their wealth locked into legal tender issued by governments or locked into assets that are within existing government systems, fintech innovations must merge with these existing systems before the public sees the mainstream utility of blockchain or digital currencies. If regulators find ways to tax and register accounts, then mass adoption of customer-facing wallets with digitized tokens is only two or three years down the road.

The business-to-business market will start utilizing blockchain much more quickly. In fact, a production-hardened system with the associated policies and operations is now being tested. Ripple and R3, among others, have been hard at work making this possible. These systems will first focus on the institutional creation of digitized representations of deposits. These are IOUs between internal organizational departments and between trusted partners, like vendors. Regulators, central banks, and monetary authorities are all investing heavily in making this possible. Canada and Singapore are two countries that have been moving very quickly in this direction.