Cryptocurrencies are evolving and today they already go far beyond a new form of money. Now, these assets have evolved beyond simple digital currencies, offering solutions through new projects aimed at meeting the complex needs of the modern financial markets.
As cryptocurrencies are customizable and programmable computer codes, the developers can design and adapt them to many use cases in the digital economy. In this way, this new token-based economy is developing emerging unique solutions in finance, security, identification, social engagement and real estate.
To illustrate this new environment, Visual Capitalist has prepared a chart, which can be viewed here.
How are these various cryptocurrencies being used in new projects?
-One of them is SPEDN, which automatically converts crypto assets into currencies for traders. Thus, they end up reducing the risk of the exchange rate and offering convenient payment options to the customer.
-Another project is Slice, which offers real estate investment to anyone for a low value of about US$10,000 through fractional investment.
Learn about some other future cryptocurrency projects
-CyClean is under development, which plans to launch a fleet of blockchain-enabled electric vehicles (EV) that exploits encryption as users travel. Thus, they end up reducing emissions and rewarding users for it.
-Builderium, a digital construction platform that connects contractors to customers around the world through blockchain, will also be released soon. With this, they end up opening a global market for potential business.
These are just a few of the ways cryptocurrencies are breaking barriers for people and businesses around the world. These are new ideas that allow increased personal wealth and entry into the global market.
Cryptocurrencies are growing around the world
The figures show that blockchain-based technology and cryptocurrency use are growing worldwide. Proof of this is that blockchain wallets users increased from nearly 9 million in 2016 to more than 42 million in 2019, according to a survey implemented by Visual Capitalist.
In an article about the New Cryptocurrency Ecosystem, the site points out that only last year the number of active cryptocurrencies jumped from approximately 1,600 to more than 3,000 worldwide. In addition, while developers produced mere 100 decentralized apps (DApps) in 2015, that number skyrocketed to more than 3,100 in 2019.
The conclusion is that cryptocurrencies are generally helping to create an innovative and affordable financial system around the world. Therefore, while the future of the new cryptocurrency economy is still taking shape, one thing is for sure – cryptos are forever changing the way we see and measure the value of money.