Looking to the future
After the great heights that cryptocurrency reached during the back end of 2017, followed by the cryptocurrency market corrections that we saw at the start of 2018, the future of alt coins is wide open for debate.
As a technology, blockchain is a revolution, and cryptocurrency is at the forefront of that. Backed by people as influential in the digital world as Richard Branson, most in the technology industry see blockchain as a completely world changing technological innovation.
In his take on crypto, Branson talked about the positive impact that crypto could have on the future and his excitement for the medium.
So what could be the future for cryptocurrency? And who believes that any coin can outlast the rest? DasCoin believes they have the answer.
The brain child of serial entrepreneur, Michael Mathias, DasCoin is a hybrid cryptocurrency that aims to be the most future proof cryptocurrency on the market. Working with a team of over 100, Michael and his globe spanning team are aiming to position themselves alongside Bitcoin as one of the world’s leading cryptocurrencies.
But, the first and most glaring question when it comes to crypto’s future as well as DasCoin’s, is regulation. What does a future look like in a world where cryptos are regulated?
It appears as though broad based rules are on the horizon, with the world’s economic leaders having met at the G20 mid-March to discuss amongst other things recommendations on crypto regulation.
The head of the Bank of England, Mark Carney said at the summit: “crypto-assets do not pose risks to global financial stability” but other nations, led by France, are pushing for global guidelines on regulations that countries worldwide would be able to follow and enforce.
If global regulations do come into effect, this will create a scramble for different alt coins to be able to prove that they meet such regulations.
How does DasCoin stack up?
DasCoin, who maintain that their KYC and AML processes are already in place to ensue regulation, provide a stable platform for those who want to dip into digital currency. Calling themselves The Currency of Trust, DasCoin uses KYC processes to ensure that everyone who uses the blockchain is who they say they are. Although transactions on the blockchain between users are private, the KYC process enables regulators and enforcement agencies to track rogue transactions. This is in stark contrast and one of the biggest drawbacks of de-centralised currencies – which may allow for money laundering and terrorism funding, due to their non KYC makeup.
With the world becoming more tech focused, especially in less developed countries, another question to be asked is about adoption of cryptocurrency. With only five to ten million people invested in crypto worldwide as a liberal estimate, the question really is – how could cryptocurrency really break into the mainstream?
Thomas Frey, a notable futurist who is set to speak to the federal reserve in September on crypto, said that he believes crypto will replace 25% of the world’s currencies by 2030.
DasCoin believe that their currency’s utility in terms of confirmation speed and number of transactions, will allow for more adoption amongst businesses and end users.
Mathias says: “Our blockchain confirms transactions in six seconds, and we have capacity for 100,000 transactions per second. Also, we’re working with Carta Worldwide, our purchasing platform partner, to create DasPay, an app that allows you to pay with DasCoin and other cryptocurrencies around the global, as well as with tradition FIAT currency.”
But for any currency that can trade at 100,000 transactions per second, there has to be the reach to support it, a key part of uptake in any new technology. DasPay serves that need.
“With the ability to pay at over 60 million merchants around the world, paying for your morning coffee quickly is becoming a reality, said Mathias.”
But is value tied specifically to the currency itself?
Well not entirely. A recent article by Motherboard talks about smart contracts as the more important outcome from the recent blockchain craze.
Talking about the importance of smart contracts, the article goes on to say that such smart contracts could be used to completely automate certain systems, such as a computer that automates legal contracts and operates autonomously.
DasCoin’s blockchain has placed a lot of focus on implantation of smart contracts, using them in conjunction with blockchain based services and applications to allow users a huge amount of control over multiple areas of endeavour.
One notable example of this technology is DasCoin’s recent implementation of this system into the fashion world. Working with Julien Fournié, an esteemed powerhouse in the Paris fashion scene, DasCoin have managed to become one of the first blockchain’s to propose blockchain integrate themselves into the world of fashion.
Working with the Julien, DasCoin has proposed to safeguard his creations through the use of smart contracts and the blockchain. This is set to create a whole new frontier for the defence of creativity and patents in the fashion world.
With the continued march of blockchain and cryptocurrency in the digital world, along with coming regulations and increased adoption, the future of cryptocurrency looks quite secure.
With the strength of blockchain technology and it’s use in the fashion world, as well as its uptake in other markets, the future of coins like DasCoin are set to be a bright one.