There is no financial safe haven

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We are always bothered about where to keep things safe. Should we? Of course, who would want his possessions to be vulnerable not to even talk of assets. Assets can be kept in many forms and yes it ALL has its risk. I must say lands have been top prioritized even from ancient times and till date it has proven to be a store of value. We have seen how wars, natural disasters and government policies have been the limitations to this sector.

loss is everywhere. Looking at valuable metals like gold, diamonds and other jewelries which have continued to increase in price especially for its application and rarity. It has the challenge of portability. In uncertain times, how do you move with all this, you may be robbed of these assets by thieves. I have heard several occurrences where shipwrecks offloaded wealth.

It came to the tenure of government sponsored notes. It was wholeheartedly welcomed (If I may say) yet we have all seen the limitations. We have seen most of its security and ownership part being handed over to third parties like the banks. We also know these industries are vulnerable, we have heard several stories and banks going bankrupt. money is light but carrying a bulk of it is inconvenient. Adding to that, it has been a fragile means of asset storage, we know what exposure to fire and other hard chemicals can do to it. It's easily torn apart and it also wears when not properly handled.

Aside from that, the biggest limitation currently has been the consistent depreciation in its value as compared to commodities. inflation continues to tamper with the future of fiat which has made wealth accruers continue to worry after the security of all their possessions. Why a lot keep on being in business even with so much wealth is the fear of inflation. Uncertainties that without continuously manipulating your assets for more you may be struck by bankruptcy.

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The push has continued and here we are just over a decade and a half now, we have seen what the introduction of cryptocurrency through blockchain technology has done. The term virtual currency sounds light and efficient. Bitcoin has really paved this way, introducing financial behemoth to the latest opportunity to secure their wealth. You could bundled all your assets into a crypto token or currency and off you go in the days of uncertainties. Does it have its limitations? Can we say that crypto is an absolute financial safe haven? Of course not, yet you must accept this, better is more preferable than good.

Yes better is better

Just as I have earlier said, the challenges of secured wealth still continues but there has been a mitigation through blockchain technology. It has its own vulnerabilities like hacking, asset loss due to forgotten keys or password, loss of cold wallet drives, cyber crimes, fraud and uncertain market conditions when talking of volatility. There will always be intruders no matter how technology advances. You must accept that tech itself is open to both good and bad parties.

Nevertheless, there is a need to look deeper with comparisons with its former counterparts. Portability has been checked. Wealth ownership has also been highly utilized in this industry, it is at your full control. Who doesn't love to have full control of what he owns. Adding to that, it has come with several opportunities to increase wealth without having to pass through many procedures. It has globalized investing and brought about a transparent spread of finance. How often has data in the fiat system slipped our eyes. There has been a lot of mismanagement due to improper follow ups, the reverse is the case with this tech.

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The future of financial safety solely relies on a better system if not the best. As for me, the best may never be created. Blockchain tech seems the efficient way currently to deal with asset storage. Staying in ignorance is more of refusing to turn a new leaf in a world where technology continues to surprise us on a daily basis. When trying to limit the potential of blockchain tech, there is a need to weigh its full advantage rather than stay in critics. It is not completely safe and trust be you will not find any other industry that is.

We have seen big companies and institutional investors flogging into the crypto industry especially clustering on bitcoin. The lack of financial intelligence comes at the cost of missing opportunity. We saw how this virtual token played a huge role in extending help to Ukrainians in the current Russia-Ukraine invasion. How would this transaction have flown in through tangible form or traditional banking systems with procedures which are mostly time consuming.

The future of bitcoin itself continues to look brighter. What started as a few cents now is what rich fellas are buying in on a daily basis. Although some may feel they are mostly there for future market gains yet the advantage is two-sided, to also store assets where they can easily access.

To conclude, let me add, when it comes to financial safety down to this modern era of crypto inception, one has to accept that even with the impending risk involved it has a huge hedge over the former. If you think of only the risk alone, I personally think the former has had no difference. As I said, there have always been vulnerabilities, and there always will be, yet one needs to accept a better system to make things more efficient. What are your thoughts about this?. Any different views? Do well to leave your comments below.

Posted Using InLeo Alpha