Crypto and blockchain industries are booming on an international scale since their inception. While cryptocurrencies present forward only one use-case of the nascent technology which is known as blockchain, there are a plethora of advancements that can be made using this technology moving into the future. Wagerr, a blockchain-based sports betting platform, recently discussed the possibilities regarding cryptos and blockchain.
Talking to BlockPublisher regarding the aspect of cryptos replacing fiat in the future, the company stated:
Most definitely, just a matter of time and we are already not only being witness to this, but more importantly we are giving our all to ensure this becomes a reality in the near future.
Although there are a lot of issues associated with the crypto space as of yet, as time passes by and developments are made, new horizons are expected to be opened for the nascent market. The company further added:
The corrupt powers that be can ridicule and slander us as a “store of value” but they are simply afraid of the fact that technology is undoubtedly one of the most prominent factors which determine the evolution of mankind.
The prospects that are offered by cryptocurrencies to the fintech world are innumerable. The global financial ecosystem can be revamped in its entirety if cryptos are used properly. Cryptos transcend the limitations presented forward by fiat and can provide global institution a framework to expand their reach to different countries. Instead of limiting to a local market, cryptos provide a chance to different organizations to grow globally.
Beneath the market of cryptos lies the nascent and revolutionary technology known as blockchain. With the possibilities that this technology offers, it is certainly set to become the technology of the future.
Talking about blockchain, the company added:
Blockchain technology is no different, in fact quite the opposite, in our hands we have the technology which constitutes the missing link between society as we know it and the society we all strive for. No frontiers, no limitations, transparent, immutable, trusted & trust-less, built by the people and for the people.
As implied from the statements made by Wagerr, the transparent, secure, immutable and decentralized workflow presented forward by blockchain technology can prove to be very useful in various frameworks across various industries. The financial industry is just one of the industries that can extract benefits from this technology. Industries like music and content creation can also be made better using this tech. As all the operations and processes happening on a network based on blockchain are visible to all, a transparent and secure operation fabric is provided. Organizations where transparency is the ultimate priority, this technology can prove to be a cure-all, if used properly. Using this tech, power can be taken away from the hands of central controlling authorities and can be transferred to the users.