The 5 main trends that define cryptosystems at the end of 2020
12. August 2020
The field of cryptomontages is a place where everything changes in the blink of an eye. New technologies, major market players and trends change much faster than in any other industry. From today’s point of view, many exciting developments seem feasible. Still, this chaotic industry may bring more opportunities in the coming months, and everything we have seen before will be surpassed by something truly outstanding. However, let us make a quick record of it.
The shift to a cashless society
One of the most redefined trends in the society of 2020 came unexpectedly. Just after Christmas, the world seemed safe despite the terrible news from China. Later in the winter, however, the world had been taken over by a deadly virus in the blink of an eye. The COVID-19 pandemic has paralyzed, disrupted and stopped many industries and has made people rethink their attitude towards many things in life. Previously questionable practices such as telecommuting or payments in cryptosystems have taken on significant importance and it seems that they will continue even after the pandemic is over. Why work from the office when everything can be handled efficiently from anywhere in the world? Does it make sense to continue to overspend on luxurious offices if there is simply no need for it in the digital age?
Besides, it’s time to get rid of cash – we need to take a step towards a new quality of life. Meanwhile, the field of Blockchain has also flourished, as a new era requires more professionals in the field of distributed bookkeeping technology. In today’s world, applications for interacting with the world of crypto-currency have become advanced and simple enough to allow the purchase of digital assets with just a credit card. Stablecoin’s portfolios are in high demand, and this obvious trend is no longer exclusive to the millennials, as institutions are joining the club in substantial numbers.
Kryptomoney is no longer for the geeks
The image of cryptomontages is changing globally faster than ever before. Bitcoin (BTC) and Ether (ETH) are no longer a bubble, as the market capitalization of Bitcoin Rejoin is now greater than that of Coca-Cola and Intel, and the Blockchain is integrated into many fields and operations. In addition, institutional involvement in cryptosystems is increasing as demand for Bitcoin soars amidst the coronavirus crisis, with Grayscale experiencing a dramatic increase in assets this year. More hedge funds are rapidly accumulating digital wealth – and that’s sure to continue this year.
Although the Libra project, run by Facebook, still has many stumbling blocks with the U.S. Securities and Exchange Commission and other regulators, its launch is continually delayed. Because the mix of different monetary policies is questionable for the success of the project, we are not sure that Libra will see the light of day in its current condition.
One thing is undoubtedly evident: The traditional user world needs more convenient interfaces to interact with cryptosystems – and they are coming. The digital divide is constantly shrinking, as by 2020 it is easier to open a current account in dollars or euros than ever before.