What coin will the world decide to start using to send money for transaction on the blockchain?
The race is on....Bitcoin, Dash, Litecoin, Steem, Libra, JP Morgan Coin and others?
The Holy Grail of payment systems, something to replace the existing system. The race is on and if your an investor your probably keeping an eye on this space, looking for the eventual winner. These competitors including Facebook, Swift, JP Morgan and Walmart, have long ago discovered the blockchain with its lower cost, efficiency, accuracy and more. That’s old news, along with the driving or motivating force for a system to replace the existing one; the cost of transaction fees, estimated at 2.16 billion per quarter for Walmart alone.
No the real problems are how to get the Global Banking System and the beneficiaries of the current system to stop fighting you and sending their political attack dogs to block your efforts and media attack dogs to portray you as the evil force to be opposed at every turn. But as if that’s not a daunting enough task, aka David and Goliath, you still have to deal with the very heart and sole of blockchains, it’s in the DNA of a blockchain to be a decentralized networks, so how do you control it once you build it and release it to the wild? As Facebook has learned, even if you build one that has all the controls you want in it, how can you stop someone from forking your project and creating a mirror image minus all the controls?
I claim no special powers with this article. I have eyes to see and ears to hear, but additionally I am a student of the blockchain and in some regards a historian recording the monumental change occurring in this world, which will effect your grand-children and your grand-children’s grandchildren. The blockchain will inevitably effect the world like the internet did, slowly and insidiously at first. But I predict it will become ubiquitous or widespread. Some may argue it already has become widespread.
In any event keep your investors eye on the prize Bitcoin, Facebook’s Coin Libra, the Facebook wallet Calibra, the counterpart in the world to Libra, a HardFork called Open-Libra, an out in the open decentralized alternative to Libra which would in theory work on the LIBRA blockchain!😳😳
Plus many other viable candidates to become more widespread paths to send money like Dash, Litecoin, Monero and of course Steem.
Follow the money as Fidelity and Nasdaq get involved in trading and providing custodial services for Bitcoin and other crypto currencies as mainstream investors often have money, but are to busy to learn the specifics of trading and holding crypto currencies. If they do understand, having the custodian hold their private keys will seem natural.
Hold onto your popcorn folks, it’s going to get interesting!
✍🏼 by Shortsegments.