• Albany Flores

In ten years cryptocurrencies will lead the world economy

Updated: Apr 27

In the next decade the entire world will embrace cryptocurrencies. The steady evolution of cryptocurrencies versus stagnant fiat money will transform markets and economies, and force nations to integrate into the digital economy.

This is evidenced by the recent announcement by the International Monetary Fund (IMF) and the priority agenda of the World Economic Forum in Davos 2022.

Last March, the IMF announced that more than 100 countries around the world are working on adopting a private cryptocurrency or creating an official digital currency or central bank (CBDC).

For its part, the World Economic Forum Davos 2022 predicts that economic rebalancing, innovation for governance, industrial transformation and technological inequality will accelerate the process of transition from the fiat economy to digital economic models. Change is inevitable and imminent.

In the opinion of DelNorte TerraVision’s chief executive officer Anton Glotser, in the next decade fiat money will definitely be replaced by cryptocurrencies and nations will be divided into two groups: those adopting established decentralized cryptocurrencies and those creating their own centralized cryptocurrencies.

On the one hand, small countries with weak economies and currencies will adopt established decentralized cryptocurrencies such as Bitcoin, Ethereum and DTV, as they lack the educational, financial, logistical and technological resources to create and implement their own digital currency.

Therefore, this group of nations will need, at least for now, to adopt existing technologies and payment systems already established by external players that can operate in their financial system. Unlike their local currency, the currency they adopt will have international faith in its value and technology, as well as the potential to attract global investment into the local economy.

On the opposite side are countries with strong economies and currencies that will create their own CBDCs. Those who have the means to do so will do so, because they want to control their own finances and, above all, because they do not need or want outside influence in their economy.

Simply put, this second group wants to stay in power and not lose their current status.

Of course, the best case scenario would be a third option, i.e. the combination of centralized and decentralized cryptocurrencies. Such a potential case will be India, whose government announced that it will seek to create its own CBDC, but will keep other decentralized currencies in its financial system to leverage them by taxing them.

In other words, CBDCs can coexist with currencies such as Bitcoin, Ethereum and DTV.

Regardless of which of the three options becomes the dominant solution, one thing is certain: in the next decade the world’s markets, financial systems and economies will be dominated by digital money, and Delnorte’s technology will serve them all.

At DelNorte we are years ahead of the competition with multiple contracts with public and private entities and our first large-scale pilot programs launched in several nations this year.

We are poised and positioned to take advantage of this trend and become the de facto payment processing and securitization system for the world.

#blockchain #blockchaintechnology #crypto #cryptocurrency