The Future Of Crypto Payments Will Be Centralized

Photo credit: GreenHashes

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During the past year, we have seen an unprecedented hype in the field of cryptocurrencies - both private investors, and the largest investment funds, and technology companies are increasing their investments in them. More and more parallels are being drawn with the fact that cryptocurrencies are an analog of gold, only not in the form of an ingot, but in the form of a combination of numbers in a virtual wallet. 

The future of cryptocurrencies looks promising, but they still have many hurdles to overcome before they become an important part of the financial system. To become a competitor to real money, first of all, cryptocurrencies need market regulation. Bitcoin currently has access to financial instruments such as a functioning futures market, funds, and other investment products. Thus, the growth of BTC now can also be explained by favorable market conditions and the growing recognition of this cryptocurrency as a market asset. Although the adoption of cryptocurrencies is growing, they have many skeptics. Among the biggest opponents are central banks and governments who treat cryptocurrencies as a growing threat to their currency monopolies. 

In particular, the United States has good reasons to do everything in its power to maintain the dollar's status as the world's largest currency. Today, the US dollar is used in almost 9 out of 10 global transactions. Neither the United States, the European Union, China, nor any other state with its currency is interested in Bitcoin or any other cryptocurrency becoming a means of payment. The main weapon for states is the systems of regulation and supervision at their disposal. By limiting the usefulness or legitimacy of cryptocurrencies in various ways, states can limit these threats from crypto. The European Union has already submitted a draft legal regulation of cryptocurrencies, El Salvador has officially introduced Bitcoin as a means of payment and is actively developing this area, many world leaders are closely monitoring this initiative. 

However, in China and India, cryptocurrencies are banned. Perhaps this is until the moment of complete centralization of crypto payments. Rules are not bad, rather, they are necessary. Regulation and better oversight are important to make it harder for cryptocurrencies to be used for all sorts of illicit activities, strengthen consumer protection, and increase predictability. Therefore, cryptocurrency has every chance of becoming a fully regulated financial asset soon. 

Central banks know that the success of cryptocurrencies is partly due to the shortcomings of conventional currencies. Traditional currencies are not suitable for meeting future demands for services and payments. Therefore, many central banks are planning to introduce their electronic currencies, which will have more functions than today's traditional currencies. The Bank of Sweden has ambitious plans for the introduction of the e-krona. In China, the authorities have already begun testing the electronic yuan. However, none of these currencies in the form of

cash can be used anonymously and most likely outside the respective state. Moreover, the most pressing issue for cryptocurrencies is mining. 

Today, it is one of the most profitable industries for investment - both classic and cloud mining, in which the investor buys capacities online. The rapid growth of cloud mining is due to the strict regulation of many countries: in some parts of the world, mining has become impossible or simply unprofitable, which forces many “big players” to migrate to “free” countries, equip farms there from scratch, or simply rent power from large data centers. It is enough to have a phone and Internet access, the specialists take care of all the trouble. 

One of the market leaders, GreenHashes сompany, has united technical blockchain experts, top miners, and analysts with one goal - to popularize the mining industry and bring cloud mining to a brand new level. The company is increasing competition in the internal market by raising the quality bar so high and attracting many new investors. This will enhance the capacity of produced equipment and the growth of cryptocurrencies. 

Rent the capacity of GreenHashes data centers and enjoy green cloud mining with the company. It is the easiest way of crypto-mining: it saves a ton of effort and time since you don't need to keep track of the equipment, pay your electricity bills, or take care of it - the equipment is already set up and ready to go with the care of experts. After the purchasing and activation of the package investors can track their passive income in the personal account. Each contract differs in cost, lease term, amount of leased capacity, and level of the referral bonus. Payments take place in the BTC to secure and make the system accessible all around the world.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.