Futurist speaker “Thomas Frey” is a author and senior futurist at the DaVinci Institute and architect of the future is confident about the future of cryptocurrency.Talking to Times Money he said Fiat money would be overtaken by cryptocurrencies in more than a decade.
“Cryptocurrency is very much here to stay and will displace at least 25% of national currencies by 2030. The pace at which they run makes them more efficient and fast.”
Although Thomas Frey did not specify which ones
Bitcoin is both a store of value and a digital currency. Even though it has made a long decisive walk as a method of payment most e-commerce businesses or brick-and-mortar retail locations in the U.S. and United Kingdom don’t consider it an option
Frey also spoke about the International Monetary Foundation (IMF), pointing to remarks by managing director Christine Lagarde, who sorrowed over the rate of electricity that bitcoin mining commands.
“When people like Christine Lagarde say cryptocurrency could displace central banks and international banking, that’s very significant,” he noted.
Frey, who is scheduled to address US Fed officials about cryptocurrencies later this year, equated bitcoin transactions to real estate deals. In place of physical property, the seller is letting go of a “digital chunk in the cloud.
— Thomas Frey (@ThomasFrey) March 1, 2018
‘Legitimate Asset Class’
Aside from Frey, James Canton of the Institute for Global Futures has also observed what many others have been trying to say — “the legitimization of a new asset class emerging alongside the traditional global economy.
Stocks and bonds was Canton’s comparison to cryptocurrencies, saying cryptocurrencies are similarly a cyclical market, one that will result both in declines and “possibly … vast riches.” Despite the volatility, he recommends “it’s a worthy area for people to experiment with their investment portfolios really carefully.” Investors are increasingly getting the opportunity to do so, as Canton predicts a rising number of “investment vehicles to come from crypto finance.”