In the past years, cryptocurrencies have made a huge leap forward.
People who had never even heard of cryptocurrencies are investing thousands of their own cash (fiat/paper money) into cryptocurrencies.
Using Cryptocurrencies to Pay for Services
An opportunity that was once limited to savvy investors and tech buffs has now been made available to the entire world – and more people are leaping towards the opportunities opening up in the world of crypto every day.
Cryptocurrencies such as Bitcoin, Ethereum, Steem and SBD are all forms of digital currency (money). They are designed specially to make digital transactions easier, safer, and more convenient.
Cryptocurrencies Are Becoming Mainstream – and Transforming the Way We Work
A joint investigative report by the U.K. trading platform, eToro, and the Imperial College London, recently sent out a press release on July 9 that put forward a study that online cryptocurrency payments with digital currencies already meet one of the three criteria that people use to define money.
The report was dubbed “Cryptocurrencies: Overcoming Barriers to Trust and Adoption”.
The report went into great detail to explain how cryptocurrencies are already meeting one of the three fundamental criteria of fiat (paper) money because it stores value.
However cryptocurrencies do not meet the other two general aspects of fiat currencies at this moment in time which are:
acting as a medium of exchange
and serving as a unit of account.
The report does indicate that cryptocurrencies are well on the path to covering these two aspects of the mainstream market within the next decade.
The report did however contend that there are issues which need ironing out along the way so as to ensure that online cryptocurrency payments are the future of money. The study noted that the areas crypto needs to improve upon are usability, regulatory, scalability, privacy, and volatility.
The U.K. Managing Director at eToro, Iqbal Gandham, noted that it has only been eight years since bitcoin made its first transaction and that we are already seeing the digital currency moving towards being everyday money.
He also said that the ability of cryptocurrency to easily streamline cross-border payments might well be the deciding factor of the cryptocurrency breaking into the mainstream quicker than we could imagine.
STEEM OFFERS THE SOLUTION
So now after reading this it becomes clear how STEEM DOLLARS (SBD) which should be pegged to the US Dollar are in fact covering what other cryptocurrencies have failed to cover in the past.
STEEM DOLLARS (SBD) are revolutionary in that they literally make possible what was never deemed possible to date and that is to have a stable cryptocurrency that is literally pegged to the US Dollar and as such making mainstreaming it on the internet easier and safer than any other cryptocurrency out there.
What STEEM has on the way to ensure versatility to ALL sectors of the market using the internet for business are subtokens (Tokens exclusively on the Steem Blockchain) which have been names Smart Media Tokens (SMT).
These tokens shall make it possible for anyone in need of tokenizing their business to do so in a way that no other blockchain has offered to date.
Using the existing Steem ecosystem in which all transactions are fast and free, these tokens shall add as their name suggests the versatility to allow for each business to adapt them to their particular needs.
Hence making STEEM the first blockchain to cover ALL of the criteria that the above mentioned non bias study/report listed as being shortfallings of the other blockchains and cryptocurrencies out there.
STEEM is revolutionizing the way we do business!