We have a vision, one that doesn’t rely on cash and outdated banking systems.
One where you are in control.
Today, modern societies rely on big intermediaries, like banks, to establish trust in their economies. The problem is that these intermediaries aren’t keeping up with the times and are clashing with new technology. At the centre of this problem is centralization (come on, who doesn’t like a good pun), which is buckling under its own weight.
Enter Bitcoin, the most significant technological breakthrough since the internet. Born in 2009, in the wake of one of the largest financial shocks in history. A digital currency that is not regulated or issued by any government.
The industry has grown up a lot since then. There are now over 1,400 cryptocurrencies with a market cap of over $430 billion dollars, give or take a few billion any given day.
From 2010 – 2013, Bitcoin was the world’s strongest currency, outperforming even gold. 2014, it was the worst performing currency. Since then, the value of Bitcoin has spiked to a high of nearly $20,000, dropped back down to $8,000, and it’s on its way back up.
This brings us to the biggest issue today with cryptocurrency. It’s volatility. It’s the #1 objection we hear from merchants. Why they are hesitant to accept cryptocurrency even though they are looking for alternative payment methods.
Just like Visa, MasterCard, and debit before it, we know that for cryptocurrency to become mainstream, it needs to gain merchant acceptance. With our introduction of Instant Settlements, opening the door for merchant acceptance.
Still, crypto is a confusing place for many people, especially merchants. That’s why we created Instant Settlements, to eliminate this confusion and fear by guaranteeing the merchant price of their product when accepting crypto as a payment method. Allowing them to lock in the crypto sale price and convert it over to fiat when the merchants settle into their banking.
Bringing us back into the loop of archaic banking systems.
This isn’t the vision of the future we have and that we are creating.
This is only temporary. A Band-Aid to assist in the adoption process.
Instant Settlements to fiat has an expiration date.
As merchants who accept and people who purchase using crypto increases, in just a few years monthly user spending of Bitcoin on goods and services has increased 2,000% to 190.2 million per month, we will see what happened with debit cards when they were introduced.
When people become confident, they will no longer feel the need to convert to fiat.
This is when our vision of the future starts.
And we’re not talking the distant future. We’re talking years not decades.
And do you know who is going to help us achieve this vision?
Yes, you heard that right. Remember at the beginning of our blog post when we mentioned that banks aren’t keeping up with technological advances? Well, this is helping to speed this cycle up.
Even though we have Instant Settlements, we are bound by the archaic banking systems, with payouts to the merchants that can take up to a week.
This isn’t acceptable. No one should have to wait that long to receive their money. And it’s even worse on the consumer’s end where the bank literally limits what you can do with your money and how much you can spend.
That’s just not right. You work hard for your money. Banks shouldn’t be able to control how you spend it. Forcing you into credit cards with high interest rates.
Cryptocurrency is an untapped USD $430 billion dollar market. That’s up from USD $27 billion just one year ago, an increase of 1,492.59% in just one year. The banks can drag their feet as much as they would like.
The revolution has already started and a cashless future isn’t a pipedream, it’s a reality that is within our grasp.