The prospects and possibilities provided by cryptocurrencies cannot be denied at all. The global financial ecosystem can be totally reshaped if cryptos are used properly. Institutions can make use of these to restructure their workflow and expand their global reach. But is it possible that in the future, cryptos will replace fiat? Or is it just a bubble that will burst taking down the entire market with it? Dropil, a crypto platform aimed at automating the world of cryptocurrency for the users of this space, shares its views.
Talking to BlockPublisher regarding the possibility of cryptos replacing fiat, the company stated:
Fiat will never be 100% replaced, however, there will be a huge market for cryptocurrencies and the blockchain technology in the future.
Fiat currently has a stronghold worldwide. Its origins go way back and with time, it has managed to get itself embedded into each financial framework. The idea of it getting replaced by cryptos seems a bit too ambitious as of now.
The crypto world itself is facing a lot of problems as of yet. Issues in the form of possible manipulation, instability, and lack of regulations destroy the reputation of this market overall. If it is to replace the well-established framework of fiat sometime in the future, these problems first need to be fixed as soon as possible.
Cryptos also pave a way for revamping the global financial frameworks. If necessary developments are made in this world in the form of regulations, this outcome might not be far away. As Dropil stated:
It is possible, however for this to happen governments must find ways to semi-regulate the market.
The native crypto token used by Dropil platform is DROP. Elaborating the usage of this token, the company stated:
The DROP token is the asset that powers all our services and tools through our ecosystem it is a cryptographic app token. The value of the token will continue to increase as long as the apps or services that are powered by it are continuously updated by their developers and the community or user base continues to grow. Which for Dropil it is. And it is only the beginning.
One of Dropil’s major aim is to increase the adoption of cryptos among the general public. In order to achieve this goal, the platform has also announced user-friendly products in the form of Max Smart Wallet and Paper Wallet in the past. Using the services of products like Max Smart Wallet, users can either store their assets in this wallet or can keep track of their cryptos stored at different addresses using it. Facilities of linkage with Telegram and Email have also been provided by the company. Dropil is one project to look out for moving into the future. It just remains to be seen how its predictions regarding the market are going to fare.