A cryptocurrency expert, Marcus Swanepoel, believes that a new financial order will replace the existing system, which is not equipped to handle the digital age. The co-founder of Luno bitcoin firm thinks that the catalyst for this could be from bitcoin and other virtual assets. He also pointed out that the world is looking for sweeping changes in economic activities and that the money will not be the same in the future.
Middle of Changes
At the same time, the crypto expert is unsure about how the next financial order will come and the role that bitcoin or any other digital currencies will pay. He was also non-committal about the time frame within which it will happen. However, he indicated that the existing environment is in the middle of the changes while stating that changes could happen at any time, whether one year or a hundred years. At the same time, he is clear that the future of currency will have a global perspective, which could be fully interoperable.
Swanepoel thinks that the banks would be disrupted due to the changes or the new financial order. It could come either from human capital, which is keen to provide better financial services or the cryptos. He was also sure that even if the digital coins are not going to change, the whole generation is keen to establish better financial services. This is mainly because the current banking system is not equipped to handle the digital age. Therefore, the current system will become obsolete once the new financial order takes place.
Nothing Wrong
Referring to the existing financial system, he did not find anything wrong with it and pointed out that it was created when there were no digital transactions. Therefore, the current system is not good enough to handle the changing trend towards a digital economy. The crypto expert said that things would not change by “existing systems optimizing themselves.” This would mean that there is every possibility of crypto entering into everyday lives.
Swanepoel disclosed that currently most of the people are looking cryptocurrency for speculative purposes and started investing in them. However, he felt that digital coins were created with the specific purpose of enabling people to use in their day-to-day lives. He clarified that the objective of virtual assets is not gambling or trading. At the same time, he said that it is a temporary thing, which is quite natural in reality.
Image via Bitcoin Events Youtube
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