The cryptocurrency revolution is taking the global financial markets by storm.
What does it all mean for us? Chances are, in the not to distant future, you will pay for goods and services with cryptocurrencies, including tuition!
But what is this all about?
When we look into our crystal ball, we see Bitcoin as a future GLOBAL RESERVE, this means every other cryptocurrency like Etherium and Litecoin and other and blockchain related tokens will derive their value relative the price of 1 bitcoin.
This is how it is at the moment:
If we want to get the price of 1 share in Commonwealth bank we can see the 1 share = 60 AUD, here, AUD is the reserve currency.
Similarly, if we want to see the value of 1 Australian dollar, we can compare it to the value of 1 USD, which is about 70c. So in this instance USD is the global reserve currency.
However, as globalisation draws our world together, structures inevitably change.
The problems associated with fractional reserve banking (which is the basis for our current fiat system) including hyperinflation and volatility make having the US Dollar as a global reserve an unsustainable paradigm moving forward.
Bitcoin and blockchain technology solve a lot of the problems, we see already Venezuela and Zimbabwe, perfect examples of failed economies, shifting their wealth into Bitcoin.
We won't go too much into it but we're adapting to the changing times, and will soon have a cryptocurrency payment system, we think it's a wise decision to start moving some of your money into cryptocurrency as it is still early days in the grand scheme of things.