- October 3, 2021
- Posted by: Stratford Team
- Category: Economy
Cryptocurrency is going to change the future of the financial system
Cryptocurrency can disrupt our lives in a way similar to how mobile phones and the internet did. Initially, it was thought that mobile phones would be used only to compensate for the physical gap between people by allowing them to communicate across thousands of kilometers. But as it evolved, it transformed not just how we communicate but also every aspect of human life – from banking to browsing. Similarly, the underlying technology for cryptocurrency is still evolving and not many are sure where it will lead to. However, one thing that appears certain is that the financial system will not be the same again.
Some argue that cryptocurrency will negatively impact the global economy, particularly the developing ones, as it removes the need for intermediaries like banks. They primarily refer to its newness and lack of trust among a large part of users. They also cite the extreme…
