Cryptocurrencies may be the solution to the traditional financial system. That is the conclusion of an article published by BlockGeek. Cryptocurrencies emerged shortly after the historic financial crisis, creating an alternative to the traditional system. Coinciding or not, this technology has characteristics that can prevent such crises from recurring.
Several indicators show that some elements that have generated the crisis are still present in the American economy. The financial market needs to be more transparent and more decentralized. And these features are strongly present in crypto, due to the blockchain. Thus, in addition to the regulation of the financial market, there will be security and impartiality provided by the network of computers that validate the transactions.
Several lines of thought defend the decentralization of the economy avoiding the concentration of power in the big banks. The Austrian School of economics is a strand that defends this. As such, this economic school is widely advocated among crypto enthusiasts.
The Crypto Revolution
Virgilio Lizardo Jr, VP of International Affairs at Gate Technology, is a strong supporter of the value of cryptocurrency. In a recent interview with CEO Transfero Swiss AG, Thiago César, the executive said that the price of crypto is a superficial indicator. For him, the revolution that this new technology can cause has a far greater meaning than price. Therefore, entering this market means joining a revolution that will change the entire financial system for the better.