Should You Pay Off Your Mortgage or Invest?.How to Choose an Online Financial Advisor.Robo Advisors for Socially Responsible Investing.How to Invest in Single-family Rental Homes.How to Invest in Commercial Real Estate.Selling a Rental Property? Decrease Your Tax Burden.Best Real Estate Crowdfunding Sites for 2022.How to Invest in Real Estate With Little Money.Bitcoin Cash: Which Is the Better Investment Today? How to Cash Out Bitcoin on Various Platforms & Apps.How to Sell Bitcoin and Cryptocurrencies.Tax Guide to Cryptocurrency Investments.Should You Invest in Bitcoin? (Deep Dive on the Risks in 2022).ETF vs Mutual Funds (and Index Funds) Comparison.How to Beat the Top Traded ETFs & Mutual Funds.Direct Indexing – Beat the Mutual Funds at Their Own Game.How to Invest in Index Funds: Do It Right.Stansberry’s Investment Advisory Newsletter.Best Stock Picking Services & Screeners.Traditional vs Alternative Asset Classes.How to Diversify Your Investment Portfolio.Should ADRs Be Added to Your Portfolio?. How to Know If a Company or Fund Is Really ESG.How to Invest 50k: The Best Place to Invest Money Right Now.How to Invest $1,000: 8 Best Ways to Invest Right Now.Similarly, some economists second their colleague from New York, creating a mental roadblock in the minds of many who show interest in the public ledger systems. But his words, widely covered the mainstream media, helped to fuel the misunderstanding people already had about cryptocurrencies and blockchain as a whole. Roubini missed the mark while he spoke before the US Congress. He didn’t address the first part of the problem that blockchain, throughout ten years since its introduction, solved nearly. The financial expert, however, spoke mostly about the second part of the problem, as discussed above. Nouriel Roubini, a renowned economist, recently tried his best to lambast blockchain, calling its applications “the mother of all scams,” and using phrases like “a glorified spreadsheet” and “a byword for a libertarian ideology” for public ledgers. While the success of the other part, comprising of regulation, economic inclusion, and space for further blockchain innovation, solely depends on FinTech-friendly policies by economists and lawmakers alike. This part is the immutability, scalability, and decentralization. A business looking to liquidate remitted crypto funds immediately upon crediting should find it difficult to hold because of fear of losing value, and to exchange to fiat because of lack of fiat funds.īlockchain has solved one part of a two-part problem. In many cases, the exchanges responsible for interchanging fiats and cryptos are less liquid than required in the absence of 1) banking partners and 2) regulations. Receiver upon getting the amount in the crypto asset would need to exchange it for local currency. It makes decentralized assets a little untrustworthy for participants looking for stable remittance. It could even gain a few million pounds if the market is acting bullish. Therefore, a $183 million transaction, while on its way to receivers, could get reduced to, say, $170 million. Lower Adoptionĭespite its innovation in the payment and remittance sector, decentralized blockchains see lower adoption rates compared to PayPal and Western Union, because the tokens transferred on these blockchains are volatile. The Ethereum blockchain transaction fee was lower than what Western Union charges for sending $50. Western Union, another global remittance service, should have sent the same amount by taking out $120 off each $3,000 transferred. A legacy payment system like PayPal – after removing the remittance limit – should have transferred $183 million by charging a $5.3 million transaction fees in an average East-to-West payment corridor.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |