Cryptocurrencies are erupting out on a global scale and with each passing day, more and more people are getting aware of the prospects that they offer. But the reputation of the cryptocurrencies in the current financial market is not very good. There is a certain class of people which believes cryptos will die out as the time passes by. On the other end, there are some people who believe cryptos will replace fiat in the future. So where are we headed?
In order to get an insight into this matter, BlockPublisher got in touch with the founder and Chief Executive Officer of a blockchain-based educational platform ODEM, Richard Maaghul. ODEM essentially aims at building a globally accessible educational ecosystem powered by the revolutionary technology of blockchain, where teachers and students can participate easily and securely.
Since Richard is actively involved in the world of cryptos and understands the technology lying underneath it, his perspective carries much value. Talking to BlockPublisher regarding the future of cryptos, he said:
Crypto is here to stay. I think in the short term, a mass exodus of crypto currencies/companies will continue, similar to the dot-com companies of the past.
As suggested by Richard, there is a lot of room for the crypto-based companies to play around right now. Besides, this world is just in its nascent stage, there are a lot of developments that need to be made, meaning a lot of opportunities for various projects to step in and gain the high ground.
Adding on to his statements, Richard said:
The legitimate and maturer companies will stay or enter into the space as regulations and governance is solidly established.
As of now, the big corporate spearheads of the industrial markets are holding back from entering this space owing to the issues that are associated with it. Illegal activities and scams have largely marred the reputation of the crypto world. But as hinted by Richard, once regulations and governance frameworks are made, big and mature companies will start stepping into this world.
The prospects that are offered by the global networks formed by cryptocurrencies are undeniable invaluable. Once the issues associated with this world are eliminated with an increased official acceptance, the financial ecosystem of the world will likely see large-scale incorporation of the cryptos in it.
SEE ALSO: Understanding ODEM Through A Short Q&A With the Founder and CEO of the Platform
