It has been a disturbing time for the global community where the world leaders were found clueless on how to deal with a Pandemic. There has been a major makeshift on the traditional concept of financial securities where each one of us was second-guessing on coping up with the economic challenges.
With millions of jobs lost only in the US, third world countries are also massively affected and they aren’t worried about the Pandemic either as food scarcity is the core issue. The investors are pulling their money from markets as the uncertainty prevailed for a considerable period of time.
2020 has identified quite a loopholes within this global system where traditional commodities like gold and oil became too easy to be maneuvered by political players. The trade war between superpowers has also left everyone at the confusing point where business communities are often forced to take sides.
Time to Take Step towards Digital Economy.
The concept of traditional financial securities has erupted too badly and many are considering new ways of monthly investments. It was keenly observed in World Economic Forum 2020 that the major focus of discussion was Blockchain and Token Economy. Digital trading and platforms to perform cryptocurrency exchange have evolved quickly and they are shaping up new modes of the economy.
Visit official site to explore more of these opportunities. There are certain obvious advantages to the digital economy. The first one most certainly is the decentralized control where each of the digital asset owners is able to decide about his trades himself.
The impact of the third parties is minimized where blockchain networks come into play and transactions remain irreversible. It is that uncertain economic power that raises the alarm of financial authorities who are unable to monitor this mode of economy. The regulators are looking upon their options to add some centralized control to the digital economy.
If this model of the economy can be monitored, it can enhance the connectivity of global trade significantly. Users can experience vast controls and features available at the palm of their hands. They can engage in day to day trading with desktop and mobile applications. With the use of technology, we all become part of a global community making exchanges at a single marketplace.
One main threat that is wrongly perceived is towards the currencies. The Indian Supreme rightly highlighted in one of its rulings to consider cryptocurrency as a commodity rather than a currency. A commodity can be anything like gold and in the end, local currencies are involved to get things done.
The economic challenges will continue to increase with each coming time. We all have to prepare ourselves beforehand so that you don’t find yourself at dead-end once again because of any natural occurrence. It is certainly a time for fresh investment portfolio as the lockdowns are eased around the world.