Having a look at how Leofinance has evolved even since I started to become active, back in October last year, and you get a glimpse of how fast things are moving in this space, at what pace evolution is revolutionizing lives, economies, the concept of money and ownership and the way we interact with technology.
It's much easier to just follow the price of Bitcoin on coinmarketcap and look at you portfolio a couple of times a day or even once a week, while reading the news but keeping the track with the whole industry and the disruption process that it's taking place as we speak is another thing. Cryptocurrencies are no longer cyber punks reserved digital currencis and neither do they look like criminals money in the eyes of many investors and believers around the world.
There's news after news after news, pretty much on a daily basis, with new investing funds announcing their crypto involvement, with companies like Tesla putting a share of their balance sheet in Bitcoin and we already have banks offering crypto services to their customers. Donner & Reuschel, a Hamburg-headquartered private bank, is to offer cryptocurrency buying and custody to its clients this one being the latest to join the crypto movement.
The private bank is also investigating tokenization of assets and not just providing custodian services for its clients and my take is that four years from now we will have probably 20% of the banks world wide already dealing with crypto. I've had a post about a month or so ago where I wrote about the next big thing in crypto to be banks gradually getting involved in this space and offering crypto related services to their customers.
As the title of this one says, I wanna bring to discussion today the next after the next big thing in crypto and that imo would be merchants all over the world accepting direct crypto payments. We pretty much don't have that yet. There are payments services such as Swipe used by BINANCE for its Visa Card that allow one to pay for almost anything with crypto, but they're actually converting your crypto to fiat when doing such purchases, by using stable coins such as BUSD or the volatiles as BTC or ETH are.
The true crypto payments services are still reserved to the elites as not many of us can afford buying Italian sports supercars using Bitcoin. What I consider to be the next after the next big thing in crypto would be to be able to spend actual cryptocurrencies at all sort of merchants. That will for sure commence at the online shopping level and gradually will protrude into physical stores.
I can't say that it will happen in a year or two, although it could happen even sooner, as the news regarding some 170 years old American bank getting into crypto came soon after I had that post about I mentioned above. The idea is that it is inevitable and it is somehow mandatory. Otherwise Satoshi's true vision won't fulfil itself. Bitcoin was not designed to be a speculative asset and cryptocurrencies haven't been created as exclusive internet currencies either.
Their core purposes are to be used in real life, for transfers, payments, acting as a store of value decoupled from any governmental power or other external financial circumstances and so on. At the moment, no matter where you could find yourself in this world, as long as you have a gadget and an internet connection you can earn yourself cryptocurrencies through all sort of means basically minting yourself your own money.
Spending crypto all around is still in works and it will be the next after the next big thing in crypto imo. To own crypto right now you no longer have to go through an exchange and buy it by using a sort of fiat currency, you no longer need to simply trade it for making more out of your investment as DEFI is offering all sort of means to farm, earn interest and make more out of your already earned on the internet cryptocurrency.
CUBfinance is live for less than 24 hours and already has $2 million in total value locked. DEFI as a whole space is just getting started. We're not even in the warm up time right now. It's like the whole space is just teasing us with what's to come. All this generated wealth needs to spend though. What's the purpose of endlessly staking and piling cryptos if not using them in real life?
I don't see any tbh... Hence I am waiting patiently and quite confident about new and accessible ways of spending crypto in real life. That's what I consider to be the big thing after the next big thing in crypto. What's your take on the topic by the way and have you already tried CUBfinance?
Images courtesy of unsplash.
Thanks for attention,
Adrian
