April 18, 2024

Business Bib

Business & Finance Blog

Fiat Currency vs. Digital Currency – The Trajectory of The Battle?

2 min read

There has been a more vicious battle between some central banks around the world and the growth of Blockchain technology. That is because what started out as a mere means of making and receiving payments devoid of any restrictions has now advanced into a bold investment option.

Cryptocurrency investment has become a household name anywhere you go today. From buying and selling these cryptocurrencies to trading them, every Dick, Tom, and Harry wants to get involved. Newbies who are interested in purple coin and some other cryptos are not sure whether this is the best time to invest or not. So, where is the battle headed?

Central banks have passed their peak

From suggesting stricter regulations to decreeing an outright ban on cryptocurrency transactions, we have seen how the authorities of certain financial institutions worldwide are trying to assert their powers on the digital currency industry. Certain nations are even considering criminalizing the use of cryptos.

But, let’s face it – the central banks are phasing out. It is only a matter of time before they become history. The world needs a more fluid financial system. Investors of all cryptos, including purple coin have been cashing out big of late. The digital currency world has grown more confident and bigger since it was first introduced. Considering all the measures put in place to manage how these digital currencies are transacted, it is obvious that the central banks are fighting a losing battle. They can either join the trend or get left behind. According to a renowned financial analyst, the central banks have passed their peak.

More rewarding

We have all seen the ongoing swing that is happening in favor of cryptocurrency adoption. Everyone is trying to get a chip of the cake. Smart investors know that this is the best time to jump onto the digital currency train. The latest involvements by PayPal, Tesla, MasterCard, and just to mention a few, tells you that the march of digital currencies into the future cannot be hindered.

Swathes of customers moving their cash from their traditional bank accounts to their digital currency accounts? It is no surprise that many people are making the switch and earning big bucks in the process. Soon the entire world will turn its allegiance to cryptocurrencies for doing business and other cross border transactions. Trust me, it is a bright future for purple coin and the others.

Conclusion

The hurting and myopic central banks have always argued that cryptocurrencies have been a safe channel for laundering money around the world. Although unscrupulous elements may have used it for their selfish gains, that doesn’t sound like a good argument. That is because even the fiat currency is still being used as a conduit for moving money too. It is noteworthy that apart from these power hungry central banks, the rest are embracing the technology by thinking of how they can effectively regulate the activities of these investors.