A look into the future: where Bitcoin & Co. will be in half a century

Compared to conventional fiat currencies, cyber currencies are still in their infancy. Nevertheless, a lot has happened since the original digital currency Bitcoin gave the go-ahead for the development of the crypto-verse in 2009. But what is the long-term trend around cryptocurrencies? That is what various experts think.
• Cryptocurrencies are still uncharted territory
• Developed thousands of altcoins since Bitcoin was invented
• Experts agree that digital currencies have a future

Bitcoin, Ethereum, Litecoin & Co .: The list of existing crypto currencies has become quite long. And that, although cyber currencies have actually not been around for that long. 2009 turned out to be the fateful year of the still young digital currencies, when inventor Satoshi Nakamoto invented Bitcoin, the world’s first crypto currency.

Thousands of cryptocurrencies created so far

According to coinmarketcap, there are now over 5,000 different crypto currencies, which are also called altcoins, i.e. alternative coins, to distinguish themselves from the crypto forefather Bitcoin. Much has already been written about digital currencies, and the massive fluctuations in exchange rates to which digital currencies are exposed are legendary.

But even if central banks, governments and various institutions are still skeptical about the new type of Internet money, the blockchain technology on which it is based has now found its way into the everyday life of many companies.

But where does the future of cryptocurrencies lie? To investigate this question, the US news portal CNBC asked various experts from various fields for their opinion on where they will see digital currencies in 50 years.

The future of cryptocurrencies

Dragan Boscovic, founder of the Blockchain Research Lab, assumes that cryptocurrencies are likely to become more and more normal in the next ten years: “Central banks are in the process of developing regulations for cryptocurrencies. They recognize that digital currencies are part and parcel of the digital economy that it should make them mainstream in the next ten years “.

In fact, the ECB only recently announced that it would launch an investigation into the creation of a digital euro. It seems that the monetary authorities could soon become creators of crypto currencies themselves.

When asked by CNBC, journalism professor and author Frederick Kaufman emphasized that cyber currencies should increasingly serve as a store of value: “Long before 2071, the dollar will have more in common with cryptos than with silver or gold. There is no reason for that Longevity of encrypted algorithms for store of value and for the exchange of media doubt “. In his opinion, every form of money is ultimately a type of encryption. For Kaufman, it is therefore a logical conclusion that technological advances also “accelerate the urge to invest in tokens”.

Ivory Johnson from Delancey Wealth Management, on the other hand, emphasizes the ability of cryptocurrencies to conclude transactions across borders quickly and, above all, inexpensively, as future-oriented: “Cryptocurrencies will completely revamp traditional finance because their most attractive property is to make payments efficiently across borders away with little to no cost, with no delay and exchange rate fluctuations “.

As far as the future of Bitcoin is concerned, Johnson is not quite so sure: “[…] 50 years is a long time and Bitcoin could either become the world reserve currency or the next AOL that has made a lot of people rich, until it was overthrown by a better technology “.

Only Dan Egan, Vice President of Behavioral Finance and Investing at Betterment, is not that sure about the future of cryptocurrencies. Although he also assumes that it is unlikely that cyber currencies will disappear again, he asks himself “whether we will generate the necessary energy to be able to serve the demand of the growing crypto market”. Just as uncertain remains the question of whether “state authorities that understand [cryptocurrencies] as competition for fiat power will not lead to the fact that it will flourish on the black market”.

How exactly the future of cryptocurrencies will actually look like can, of course, only be guessed at. All of the respondents agree on one thing: cyber currencies are here to stay.