Crypto-innovation is merging with financial services
2 min readTable of Contents
Blockchain technology and cryptocurrency are increasingly entering the traditional financial world. These quite new tools offer advanced competitive services.
Developing cryptocurrency services
Cryptocurrencies and blockchain technology are no longer a technological punk issue. Almost every industry is digitizing and streamlining its platforms and services using blockchain, and multinationals think and work on their own digital currencies.
Cryptocurrency innovations make business more stable, transparent, secure and much more accurate. While there are many ICO frauds that have only sought to nourish the trend and rob the believer, some projects are already delivering results.
Cryptoproducts bridge to adoption
Currently, we can find many projects that are already merging with traditional financial services. Although it is a novelty, there are already several companies that offer crypto / fiat credit cards. You are trying to create a bridge between these two worlds. Cryptocurrencies offer reduced transaction costs, user privacy and other benefits. However, crypto cards still strengthen their market position.
Cryptocurrency ATM or Bitcoinmats are another. To date, these numbers exceed 7100, allowing interested parties to buy cryptocurrencies via cash or credit cards. The trend with bitcoinmas continues to grow and progress is a good indicator of what can be expected in the future.
Cryptocurrency derivatives and futures trading have skyrocketed over the past two years as they have been running on several major global stock markets. The most popular bitcoin futures platform is still Bakkt, which was launched in September 2019.
In addition to financial instruments, cryptocurrencies are also being discussed in central banks around the world. CBDC, or the digital currency issued by the state, is becoming an increasingly hot topic for several governments. Countries like China and Australia even spend government funds to digitize and implement blockchain into the system.
Summary
In just 11 years, cryptocurrencies and related technology have earned their place in the financial world. If cryptocurrencies prove their advantages over fiat currencies even in this unstable time, they will have a promising future ahead.
