How Crypto & Conventional Currency Impact The Economic Market.

Src
The world of economy is changing such drastically over the few years that it has never been in the past century.The actual case is that, when the age of globalization is rolling forward, apart from scientific and tech advancement -there was economic revolution that topped the list.
It is the natural evolution out of amazement that it really is, economic activities got into fast track, scarcely we could imagine few years ago.

Few days ago I attended an online seminar and luckily there were prominent economist of central bank of the state who have had his active service of being a deputy governor of the bank. Along with the high grid loads of work, assessment and monitoring of the global and national currency reports, he had to cast a critical eye and control over the facts and crisis, financial debts that arose in the surrounding banks.

It is good to notify you one thing, that in his state the central bank being the govt entity has the supreme role to hold and maintain the other 110+ commercial and active transactional banks, by providing them incentives when they go bankrupt, assisting with loans and crediting the back up support to solidify the validity they needed. It wasnt easy at the beginning but with his good grip,he could solve problems one by one.

Tackling the money inflation was a big challenge, at one stage of his lecture he admitted. Yet, we all are aware of the fact that, when economic recession occurs,, the shortage of supply according to rising demand, the increasing amount of the population creating pressure on the channel. In Asia, 3 out of 5 nations suffered to pull back just 1.5% of the inflation rate, because the revenue board had to cut extra tax amount to projects like subsidies.

Quite seriously the subsidies were allocated to spend buying necessary commodities,corns and cereals,food items and medicine for general people. As of a smaller proportion of inflation less than fraction, the printed money couldn’t grapple demand and economic recession rolled forward.

But, the question remained the same as that when the conventional money couldn’t meet all the crisis, the additional amount of crypto liquid currency came on rescue. Looking at the statistics,, there are countries where 6/10 people rely on crypto and NFT tokens to conduct their transaction. Specially in African nations,inflation and lower developed economic conditions are a big challenge.
In Europe. The developed nations have free trade area and EU offers euro based finance and commerce. But in Africa, its not a common tangible reality yet.

What I see as an alternative option, that smart crypto token and forex reserves conducted by blockchain operators would surely aggravate the crisis and rising pressure on conventional economy. Again, most of the time things arent taken with the easy step of fast and secure transaction of funds from donor to recipient. Some of reports of bank robbery and mismanagement of the assets in fixed deposits have been looted by bank officials.
Such pictures do show nowadays how unsafe investment schemes have the banks offering these days.

We entered to web3 and quite astonishingly the smart and scalable features of the blockchain empowered crypto mining has gotten public attention to most cases. Yet some of the states are refusing to license the technology, yet things wouldnt be the same and conventionsl banks wont be with the same pace as of the crypto markets nowadays.

Before the start of Bitcoin in 2009, nobody knew things would come so far as to have more than 19 million would be mined within a decades time and the price of it would rise from mere $1k to $34k just on a timespan of few years. But, things are credible and quite predictable now.

Its not impossible to reach the price of BTC to $50k in the next 5 years of time. Yet the market volatility is a big fact, but those who can grab and manipulate the riddle of investment and market cap can surely bag a good profit.Anything is possible and numbers dont lie!

Posted Using LeoFinance ^Beta