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Before cryptocurrency started dominating the world, the governments of each country would regulate all the money and its use. The US dollar, euro and British pound are the most common currencies used all over the world. But technology has already changed numerous things including through the introduction of cryptocurrency.
Most of us have heard about Bitcoin and Ethereum, which are the most popular cryptocurrencies used today. Investors can now buy and sell these coins as part of a business. Additionally, they are also used as a means of buying goods and services all over the world. One thing to know is that cryptocurrencies are not regulated by any government.
What Is a Cryptocurrency Takeover?
This is an anticipated scenario where cryptocurrency is likely to be the most preferred medium of exchange by outshining cash. People are accumulating digital coins rapidly through purchasing them and mining. Today, most of the blockchains are looking for better ways to serve the ever-increasing number of users. They are also advancing the search for speedy services to increase the number of transactions completed simultaneously.
There are many reasons that financial experts believe that there might be a cryptocurrency takeover in the future. Their arguments are based on past and current trends. So, here are highlights of what one would look like.
Battling Government Interests
Before the takeover takes place, the cryptocurrency inventors and leaders would have to battle the government interests, which are to maintain the position of the fiat currencies that they regulate. Currently, cryptocurrency is decentralized, and no government in the world can claim to control it. Although there are speculations that some regulations may be introduced in the future, no one knows the fate of this move. As of now, the governments are working hard to make cash relevant and the best medium of exchange.
There are numerous publications writing about the current status of digital coins. The Trybe website has often mentioned how cryptocurrency has been doing very well so far. All digital coins have been improving drastically in their acceptance and gaining stability despite being on the market for only a short time. More and more people want to get a share of the pie, and so, they have been investing heavily.
For instance, Ethereum has been coming in second after Bitcoin for a couple of years now. But it is more recently catching up and almost the best cryptocurrency in the world because it has a better and more capable blockchain. This is just one trend that reveals how possible change and even a cryptocurrency takeover is.
Involvement of All Countries
The takeover cannot happen without the involvement of all countries in the world. Today, quite a large number of countries are already involved in the operations of cryptocurrencies. In fact, some have their own coins, which are doing well. Over time, even the developing countries will join in as people accept cryptocurrency even more.
The cryptocurrency takeover is not as simple as people think. For now, it is safe to say that it will not happen in the next five years. However, the trend shows that it might take place in the near future. But there is a lot of work that needs to be done by the cryptocurrency innovators to see this dream come true.