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Will Digital Currency Replace The Dollar..

Can we agree that technology has always been the engine that has advanced civilization and has allowed mankind to live and thrive on so many levels.

From gold and other precious metals, to notes of deposit, to fiat currencies, to credit cards and now, to encrypted digital currencies. The age of information, Data management and value exchanges are primed to make another huge step into the future.

This new world of decentralization, blockchain and encryption is here, right now and growing sure and steady. I will not bore you with the what if’s, but rest assured that what is being called Web 3.0 is going to be a game changer for all, but, life changing for many.

              Image by Cointelegraph

Web 3.0 The Blockchain And Digital Currencies

A major issue today, in the age of Big Data, Marketing and Social Media is the concern that many high tech organizations are gaining greater and greater control of individual and company privacy and security.

this is no longer just an irritation in our daily lives but, a total invasion into what was once elements that we and companies controlled through individual initiatives, public announcements or company disclosures.

This is not the case today. More and more of your information whether it’s private and personal or business and proprietary is being controlled by others across every spectrum of our lives.

If you post it, email it, comment about it, make a purchase, store it on a cloud or server not local, your data is subject to, censorship, manipulation and banning or sale to other organization without your permission.

Literally, you do not control your data today, and less and less in to the future. Getting Privacy, Security and Financial control  back into your hands is what Web 3.0 is offering.

And, that’s not all, this leading edge technology is an alternative method of personal communications and monetary exchange for products, services or assets. Digital currencies promises a potential safe haven from the dollar that continues to lose it’s value. 

The first usable crypto coin we knew, was Bitcoin. And, that leads to the question; how many of the many alternate digital coins or tokens actually represent real value, assets, that have utility and can be used by an unlimited number of financial institutions,  corporations or individuals as an indispensable form of digital currency in their daily life of international commerce, local retail and private exchange.

Will Bitcoin Speculators Become Hodlers

What a surprise, Bitcoin was to many individuals, a White paper and a Digital coin that had overcome the double-spend problem of internet money. Yes, it was originally offered to the market place at less than 0.01USD.

And, those who invested because they understood the technology and those that speculated on it’s potential made out very handsomely. The key to Bitcoins success was made possible by the Blockchain and encryption technology.

So, what else was the blockchain and encryption technology good for? We know now that Vitalik Buterin and a number of other individual co-operated to create Ethereum.

This was not just a coin, it was also a platform for designing a whole host of decentralized digital applications from smart contracts, secure ( encrypted data files, wallets, property and asset records that resist tampering/alteration and this is just a scratch on the surface of possibilities ) applications.

Bitcoin was the first operational cryptocurrency. But, one must consider issues such as; does, Bitcoin have utility, does Bitcoin offer the liquidity that local and international markets demand. Will speculators become hodlers and allow Bitcoin become a true digital asset and a stable investment with minimum downward movement..?

Today There Are over 6483 Digital Coins 

Many of these digital currencies have raise millions of dollars and even more, base on their white papers that detailed plans to build or complete an operating business system that would bring great financial returns to their investors.

Of course that promise was kept by some but, many more of these startups that have received a lot of cash, have yet to deliver. And others are “pump and dump” or aka, “shit coins” that survive simply by speculation and attracting new investors.

The Businesses and Social Ecosystem ( built on Blockchain  Encryption technology ) that  have greatest potential are those with Tokens or Digital coins that have Utility and  provides On Demand liquidity ( ODL ).

Talk Of Digital Currencies – In The Air – Are You Listening

The discussion on the benefits of digital currencies and the blockchain has increase greatly. And, although Bitcoin was the first and has had an unprecedented increase in value, there are many other digital currencies that will provide much greater utility and liquidity.

And, this is what the world needs, a digital currency or more than one,  that serves the day to day requirements of everyone ( Financial Institutions, Businesses and individuals ).

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/Investing in cryptocurrencies and Initial Coin Offerings (“ICOs”) is highly risky and speculative, and this article is not a recommendation by Pacificven or the writer to invest in cryptocurrencies or ICOs.

Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Pacificven makes no representations or warranties as to the accuracy or timeliness of the information contained herein.