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Crypto Stimulus

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There has been a lot of talk recently about discounts for the price of $ 50. taxes and economic incentives to drive the world economy. When tax reforms are discussed, debates are triggered on political motives, winners and losers, and the overall effectiveness of the proposals. And if there was a simpler and more inventive way to stimulate the economy by helping businesses and consumers? The answer came in the form of cryptocurrency payments – a means to achieve economic growth, job creation and accumulation of wealth. All this can be achieved through decentralized peer to peer cryptosystems.

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For cryptographic networks become the primary technology used in global transactions, it will require a critical mass of users to achieve the ubiquity and efficiency of the market. 2017, total card transactions will likely exceed $ 30 million If a cautious 10% of these transactions can be processed over cryptographic networks, it would bring in $ 3 billion in value transfers to businesses and consumers. "Percentage of commission on this volume could easily mean $ 3- $ 6 billion commission for crypto networks each year. These numbers are staggering and one of the main reasons cryptocurrencies such as Litecoin, DASH, and Bitcoin Cash have been developed. ryptocurrencie s seek to democratize transactions, eliminate unnecessary third parties and remove the many barriers associated with sending and receiving money.

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<img alt=" B "src =" According to Pew Global Research, we can add global remittances that exceed $ 600 billion a year. The graph below, courtesy of Pew Research Global, highlights payment payments from the United States. If we consider 10% of the global volume of remittances and 10% of the global volume of card transactions in 2017, a single cryptocurrency can reach about 6 to 9 billion dollars in commissions. The integration of cryptographic networks for both global remittances and transactions will reduce costs, thereby passing on savings to consumers and creating more speed in the global economy. One of the beauties of crypto networks is that many of these fees can be eliminated by integrating decentralized technologies into a myriad of applications. The elimination of friction with the creation of more transaction channels will provide many more rewards than risks and should evolve in the way that all transactions of this nature occur.

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Transactions on the Network crypto will be almost instantaneous with little or no fees, other benefits include the immutable blockchain registry that prohibits double spending These issues are among the top reasons why global remittance systems and digital payment always rely on VISA, MasterCard and American Express, because the fees paid to these parties are supposed to. Once the crypto networks are embedded in these systems, the economy can reap immediate benefits and the networks will continue to optimize by developing Blockchain technologies and decentralizing networks.

Problems such as cryptocurrency volatility, security issues and lack of understanding hension prevent the & # 39; widespread adoption of global remittances and digital payments. What many fail to realize is that crypto, when it is integrated properly, can be used as a hedge against inflation / currency volatility, is safer and faster than Visa, MasterCard and Amex , and that these currencies can be traded by the owner more profit (a relatively heavy process with traditional fiduciary currencies). This is unprecedented in history; never has a company been able to accept decentralized secure payments, see the transaction clear in minutes, and then swap the digital currency on an open exchange. This technical loop reduces redundancy and friction not only in point-of-sale systems, but also in transaction clearing and banking.

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The cryptographic community of early developers, miners, and adopters is always focused on constant improvements can be done with relative ease and speed. The belief in the principle of constant improvement and open source innovation has propelled technology to this point, but only when crypto is used in a practical way, such as the above mentioned areas, crypto usurper really the inefficient centralized systems that are now in power. Crypto is decentralized money, controlled by the people, who will choose to use it in ways that stimulate the economy. The widespread use of crypto as the primary mode of global remittances and the digital transaction will only be the beginning, we will soon see entire industry reforms because of this revolution in technology and the world. money.

The facts are apparent, the global economy would greatly benefit from the widespread implementation of this technology. Keep in mind that global remittances and digital payments are just the tip of the iceberg. Crypto is here to stay, so adopt it and start to reap the benefits now. This is really the way to boost the economy while giving back the power of money to its users.

Bio: Richard Johnson MBA, Managing Partner Crypto Currency Mutual. He is an expert in equities and financial technology in the structure of the firm's market and technology structure. He has 20 years of experience in the financial markets industry. Prior to joining Greenwich Associates, Richard was a consultant with companies focused on Bitcoin and Blockchain technology.

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