Crypto and blockchain has "payments" figured out and it's just insane - E-commerce to explode

When people say crypto has no intrinsic value I often find myself in a position to question my knowledge of the meaning of certain English words and also the application of these words by others because look around, what other technology in the world offers near instant payments that is absolutely borderless and secure?

Shopify was recently reported to now accept USDC payments via Solana pay.

Similarly, there's been survey data released by Citi Bank that shows that firms are actively exploring blockchain technology despite the fall of FTX and all these legal entanglements.

On Aug. 23, Citi presented a comprehensive analysis of the developments and challenges faced by the digital assets and distributed ledger technology (DLT) sector. Despite the setbacks of 2022, particularly for some crypto firms like FTX, the research offers an optimistic perspective on the evolution of DLT and digital assets.

The report points out that a larger number of companies are now engaging with and showing interest in DLT and digital assets. The data shows a significant jump, from 47% of firms in 2022 to 74% in 2023.

This increased engagement has led to the management of billions of USD through DLT platforms, involving over 20 major global financial institutions.

47-74 is a significant jump over one year and particularly several bad reports from the media companies on the state of crypto and blockchain, some true and others basically designed to spread FUD for whatever selfish reasons.

Distributed ledger technology holds true potentials in different business sectors, health, finance, literally anything could use a decentralized ledger that is secure, powerful and flexible for data management.

In another report, Pakistan’s Central Bank Recognizes XRP’s Pivotal Role in Global Payments.

In its latest annual financial stability report, the State Bank of Pakistan (SBP) acknowledged XRP’s instrumental role in global payment settlements, shedding light on its potential to reshape the international financial landscape.

While addressing the broader context of cryptocurrency adoption, SBP embraced a balanced perspective. The report noted the advantages and dangers of cryptocurrencies within the global financial framework.

Sure, they may be talking about XRP but we all understand why that is, what can be actively controlled will most likely be financed by the governments of the world.

And sure majority of the reports above are about centralized cryptocurrency projects but its important we understand the value of the exposure that comes with it, be it USDC being talked about, or simply blockchain technology without the mention of crypto or Ripple XRP, it is most definitely impossible to believe that these lights shed on these tools and projects will not cause people to discover more about the ecosystem, thus discovering and adopting several decentralized finance protocols.

Crypto will expand E-commerce and online global services

There has previously been a lot of restrictions on global payments due to the rigidity of banks and the governmental system of the world.

With crypto ushering in an era of total finance control where the governmental power have little to no influence on how individuals move value across the globe, the Ecommerce industry will experience a surge in sales as crypto borderless payments infrastructures gain adoption within the industry.

Similarly, various online businesses with global audiences will be able to build and scale more effectively as they no longer lose value due to finance restrictions in certain geo locations. Crypto and blockchain have had payment flaws figured out and solved and there's practically no stopping it from being widely utilized in coming years.

Value is about to massively spread across the globe.

Posted Using LeoFinance Alpha