The Fed signals of future collaboration on cryptocurrency or at least, the Fed did not intend to ban it as China did. The signal makes the crypto market recover quickly and the industry cheers around. What makes the Fed change its mind and start looking for collaboration with crypto into the future.
Fiat currency may fade out
The worst scenario of the Fed is what if fiat currency will be replaced eventually. The Fed may want to have a fade-out plan to retire fiat currency and adopt cryptocurrency.
Money choices are widening
Money will change its characters from general use to specific use. Money will come with certain features that keep its valuation while spending on a certain purpose. Harder spending makes people think before spending and save their autopilot spending to waste their resources. Money may become a more wide range of utility not limited to just spending but invest, preserve valuation or risks defer like insurance.
Cryptocurrencies as utility money
Spending money becomes more toward specializations than you think. You not only got Bitcoin as digital gold, Ethereum as internet money, Dogecoin as digital currency, and many more to come. You can also perform investments through cryptocurrency or pay by cryptocurrency similar to companies’ stocks when completing crypto-related projects.
Stablecoin + CBDCs
Stablecoin will be issued by a commercial central bank to compete with CBDCs. People will have the choice to spend or convert between types of stablecoin or CBDCs.
NFTs social media partnership
NFTs will integrate with social media to create a trend of art promoting events that people can anticipate and collect to become their valuable memory that can be exchanged for currency.
Universal income is coming
If fiat currency cannot proceed with universal income because of political disputes, cryptocurrency will move forward to give citizens universal income in the form of cryptocurrency. It helps the society of people who need their basic income to survive while continuing searching for jobs.
Crypto creates jobs faster
If one cannot find jobs paid by fiat currency, they may have an option to find jobs from crypto markets that pay for cryptocurrency.
Crypto education
You are not limited to paying huge money to attend university and earn a degree that you may never use. Crypto may create alternative routes for students to earn crypto while learning. You then use what you earn to pay off the education bills.
In conclusion
Suddenly, the crypto future becomes more clear. The government recognizes its benefits to society and it will make more choices for others to choose without bearing huge debts.