A lot has been said regarding this technology being a scam. Some went as far as calling it a Ponzi and will go extinct like the rest of the Ponzi that has come before it. Well, I believe that people are entitled to their own opinion and we can not always see things the same way.
Despite this fact, there is no denying that some opinions are questionable. Seeing crypto and blockchain has something for the moment is a very wrong way to assess the technology. In my own opinion, I see crypto as something that is here to stay and the reasons are highlighted below:
- Being a Legal Tender
- Provision of Jobs Opportunities
Transparency has been a huge concern for a lot of people in this era. Blockchain and cryptocurrency provide a solution for that gap. Transparency means a lot of things to different people as people see the term in a different light. The technology is constructed in a way that allows people to trace and easily know the activities of others. This way, it will be hard for someone to be in the dark about a transaction or a command (Smart contract).
Imagine a land without a central authority, then Blockchain is the place to be. People are tired of being controlled and being told how to live their life, especially how to spend their money. Crypto and Blockchain eradicate the situation of centralized authority and that's one major reason why the technology has a crucial role to play.
Governments of most countries are not in the support of blockchain technology. The reason for this is that they have no control over it and that pisses them off. Despite this, governments of some countries have devised a means to tax crypto establishments. This has, in turn, led to the release of more revenue for the governments. Even though Government can not regulate the crypto market and blockchain at large, they have settled for taxing. The government will not shut down anything that drives revenue into their pockets. Besides, Government has no power to shut down this technology.
While the government of some countries continues to be at loggerhead with the technology, some countries have accepted it as a means of legal tender in their country. The good news to this is that more use cases and more people will be open to using the technology than before. This further underlines the widespread adoption of the technology and this shows that more countries will follow suites.
The numerous jobs the technology has created will cause a crypto antagonist to rethink. Despite the notion that the technology is a Ponzi or scam, no Ponzi and scam have created as many jobs as this for people globally. The blockchain is just another world on its own and it encompasses everyone from every field without discrimination. This makes it the fastest and widest growing industry in the world as of today and truth be told, perfection to the technology is still some light-years away. More jobs opportunities will be created as the old ones are yet to be exhausted.
Also, The major reason why it was created in the first place remains a valid reason why the technology won't go extinct. it creates an alternate means of payment and so far so good, Crypto remains the best means of payment in my opinion.
Would love to hear your views on why you feel blockchain and Crypto would be here forever, would love to hear if you think otherwise too. have a weekend, guys
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