Cryptocurrency adoption? How profitable is it for economies?

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Cryptocurrencies are here to stay and like the long and complex history of money, they do not come to displace fiat money or eliminate banks as everyone believes can happen or wants them to, but rather they come to coexist with them.

Cryptocurrencies are mechanisms subject to many interests that include from the cultural to the economic, which is why their adoption is often slowed down, since it is not convenient for there to be a massive adoption, however, it is being fought because at the present time it is a mechanism that adapts to all circumstances.

The most attractive thing about cryptocurrencies is that you can have your money without any intermediary. There are cryptocurrencies that have a community value and it is the users who give that value. In this lies the importance of cryptocurrencies, the value they have in the market, as well as the value that individuals, culture, society in general give it.

The adoption of cryptocurrencies is beneficial for society and for the individual, since it is money that is immediately available and can be exchanged at the time required. Beyond the value, or the yes I bought high or low, the discussion about the adoption of cryptocurrencies must be rethought about the value it has in communities, not only digital, but analog.

The discussion must be raised from the social and cultural, how does society welcome this new type of change and bring it to its daily life? How is it done so that more individuals use them? If you read about the history of money (fiat) and how it came to be the unit of exchangeable value in all societies, it will be seen that there was in the first instance a value assigned according to culture and society, which was later motivated to use and that gave it strength and value until it became the unit of universal value. The above is a synopsis of the history of money, but it serves as an example to see that it did not come to be established overnight but went through a long process of acceptance.

That is why cryptocurrencies can become like fiat money, as long as society assumes them as a unit of value, that they have confidence in them and allow them to make use of them in their daily lives.

Of course, to achieve what traditional currencies have achieved so far, time must pass, it is to be recognized that today there is a more open and trustworthy position than 10 years ago when BTC emerged.

But how profitable is it for economies? In view of the fact that these are subject to market economies and there are multiple factors that affect them, which makes them a centralized field, cryptocurrencies are in a more open and decentralized field, which is why many distrust that adoption of cryptocurrencies is beneficial, because everything could become anarchy.

It is precisely the decentralization of cryptocurrencies, the fact of the instability that some present in their prices, the little information that some have, the bubbles that are created or the destination of the funds, cast doubt on their massive adoption in a near future.

However, every day cryptocurrencies have more followers and one of the elements that it has in its favor is a society that has grown under its parameters, which is why the discussion must be raised from other areas, not only the economic ones, but from the cultural and social aspects, since after all it is individuals who give continuity to the projects.

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