How the Cryptovite Changes the World

Olena Dubchak

Olena Dubchak

May 8, 2020
Today no one needs to be convinced that the crypt currency has an impact on the entire world economy. To a greater extent, this is due to the increasing number of areas in which virtual money is successfully replacing fiat analogues. According to many financiers, the future belongs to decentralized payment systems with guaranteed anonymity.

Changes in the financial system under the influence of the crypt currency

Blockchain technology, which is at the heart of cryptovoltaics, has abolished the presence of a financial intermediary. Thanks to it, not archives of financial institutions, but a distributed network of autonomous computers are used to store accounting information. Organizations, departments or centralized bodies are unable to control its activities.

The rejection of intermediaries saves a lot on commission fees and contributes significantly to the fight against corruption. It also eliminates the need to obtain various licenses and permits, which are not always issued by honest officials.

How the Cryptovite Changes the World

The possibilities of block technology extend far beyond the normalization and security of cash flows. Its application allows "putting in order" practically in any sphere of activity. For example, today it is actively introduced in sphere of logistics. Also blockchain can be used in an elective system, and it will completely exclude the possibility of falsification of voting results. And there are many more examples of this kind, and their number will only increase with time.

Crypt currency is today's reality

The first virtual currency - Bitcoin has maintained its leadership in this market until today. Bitcoins are constantly used for a variety of transactions:

• It is accepted for payment at, for example, the American online store Etsy and the Subway restaurant chain;

• for BitPay Visa owners there is an operation of quick transfer of Bitcoins into fiat money, after which the card can be used for regular settlements;

• on ChainTrade platform anyone can trade raw materials and products.

All this makes the financiers of large countries to make attempts to legalize the crypt currency, making it a real payment means. In Japan, for example, Bitcoin and Etherium have been considered legal means of payment since 2017. And representatives of Russian financial circles believe that giving legal status to this financial instrument will minimize money laundering.

According to the head of a non-profit trade association, WSBA (Wall Street Blockchain Alliance) Ron Quarantum, cryptovalues are a new class of goods or assets. Today, investment managers and traders are taking an increased interest in them.

However, not only the leaders of the cryptovoltaic market, such as Bitcoin and Ethereum, have bright prospects. Yes, they are on everyone's ears and are very widely used in various fields. But there are still a number of equally worthy analogues.

For example, YODA X, which was born in March this year. It is based on 3 blocks, supplemented by unique system algorithms using PosMining method. It is an advanced investment platform that provides perpetual marketing with an accumulation function. The profitability is between 12.3% and 71.5%. According to the developers' idea, the new crypt-currency will not only become a means of payment, but will take its place in the areas of b2p, p2p, related to the acquisition of all kinds of services and physical goods. In fact, it is a virtual bank providing a decentralized system of lending, investment, insurance and trading.

How soon will banks start using cryptic currencies?

According to analysts of Bloomberg News, Bitcoin and other cryptov currencies represent a real threat to the current monetary system. After all, they can completely replace the latter.

How the Cryptovite Changes the World

The fact is that the basis of these payment networks is anonymity, supported by the ability to operate even outside the existing system. If the cornerstones of banks are authority and weight of this or that state, the basis for the world of virtual money is technology.

At the same time, the traditional banking system is not afraid to use digital currencies to solve its problems. Some large banks are considering joining efforts to create their own crypt currency. Its purpose - maintenance not only safe storage of money, but also the information on spent transactions without complication of process of verification. Transactions will be carried out using blocklock technology.

Such major representatives of the banking world as BNY Mellon, Canadian Imperial Bank of Commerce, MUFG, Barclays, State Street, Credit Suisse, UBS, HSBC have expressed their willingness to participate in this process.

The use of cryptovolta for the good of man

The lack of real money turnover allows to get rid of a large number of problems that charities have to face. Not the last place is occupied by the leakage of funds and corruption. It is for this reason that the bloc was taken over by the World Food Programme and the British humanitarian organization Start Network, which transfer funds to the hungry.

The Blockchains also contribute to the improvement of the environment. In New York, for example, the technology identified is used by the Brooklyn Microgrid project. Thanks to this project, people who have equipped their homes with solar panels are now able to trade cheap electricity with their neighbours. All they need to do is install a special application on their mobile device.

The World Economic Forum held a summit at which a proposal was made to use the block to collect reliable data on the amount of hazardous substances released into the atmosphere. The use of digital currencies provides more reliable information than that available through traditional monetarysystems.

#YodaXEmpire #yodax #cryptoyodax #Saleyodax #Buyyodax #Dreamteam #Yodax #Dreamteamleaders
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