THE FUTURE OF DIGITAL CURRENCIES

The story of cryptocurrency started way back in 2009 , when an individual or a group of people in the name Satoshi Nakamoto started a computer based digital asset called bitcoin. Bitcoin paved away for many related projects to start and today cryptocurrency projects range from hundreds to thousands, each one claiming to be the best in the Arena of crypto.

Look, Due to many developments that have germinated in the industry, it is proved to the Central Banking system that cryptocurrency and

blockch-

ain technology is not here to Joke , But to change the Future of Money from fiat (paper) to Digital.

Eventhough we have a thousands of cryptocurrencies out there, only a few are prepared to be the future of money that fullfills the requirements of Money/ currency.

Many of cryptocurrency projects will fail in later time to come eventhough they do appear to be the strongest today ,and many will end up as mere digital assets for daily trading but not as pure currencies for paying for goods and services.

The cryptocurrencies you see everyday, like bitcoin just paved a way for this technology to establish and move but they do not qualify as currencies /money. 

A crypto Asset to qualify as a currency atleast must address the following

•  Creat a tax information calculator on its blockchain. This will be easy for governments to collect tax. No any government can accept to loose all tax in a currency that is unable to address this.
• Must comply with Anti Money Laundering Laws (AML) , to prevent terrorism and other related illegal practices related to money. No any government will accept a currency with anonymous users
• The crypto Asset must be easy to use by everyone that is to say not ambigious. Many crypto currencies are ambigious to use and this disqualifies them as pure currencies.
• Speed and Time to transfer: it must be instantly tranferable i.e in seconds, This again disqualifies bitcoin which can even go to days when the transaction is pending. This is a year in Business.
• Store of Value: many crypto currencies are not stable, with a high volatility rate , Yet Money must address the Quality as a store of value, no any business can accept such a currency like bitcoin that is so volatile, and the fact is shops that say that they accept such risky assets i.e bitcoin as a means of payment , have online systems like bitpay that converts bitcoin to fiat currency e.g US Dollar at the current price. No business can accept to take Un-calculated risks on its capital.
• An Asset Must be with a 24/7 support system to address customer's needs and querries related to their money / crypto Because in real life, people will loose their credentials like passwords, pins etc . In bitcoin Once its lost , then you are gone , no any backup.
• Privacy and security: The internet is full of hackers, fake sites, fake shops , computer malware among others . Any currency to qualify as a pure digital currency and accepted by governments for paying for goods and services Must address this 

I have listed , but a few. At the End The future of money is Digital , No doubt BUT many of the investors will loose money, won't benefit in this financial revolution because their eyes are on getting a penny (daily trading - that is not the vision of cryptocurrency) and many projects will close and a few crypto currencies will survive and in my understanding only a maximum of 10 cryptocurrency projects will survive as pure global pure currencies for a purpose of paying for goods and services .

Save yourself and everyone, stop loitering in crypto projects looking for a pure global currency, you wont get one Unless when you are so Lucky. Just look out for Rainbow currency (YEM), invest in a currency fullfiling all the above requirements that is set to be a global reserve currency, legaly accepted in European Union as a real currency , with a reserve foundation RCF that is registered in Union of International Association uia.org which operates under the mandate of United nations. 

RAINBOW CURRENCY (YEM) /Your Everyday Money. This currency will help you understand the future of money and why you will never find any helpfull article like this one in your life.

Next topic: A global reserve crypto-currency that no body should miss.

Thanks,

Sharif Mawejje, The cryptocurrency analyst.