A recent study released by eToro and the Imperial College of London shows that cryptocurrency has the possible features of invading the future of payment within the next decade. The released research also predicts that cryptocurrency needs to solve some problems to be the mainstream payment for the next decades to come.
The report also provides some issues that the cryptocurrency needs to solve. However, the research still offers convictions that the cryptocurrency will increase its global mainstream adoption within the next decade. The research also speculates on the ability to achieve the three major tenants of currency: store of value, medium of exchange and the unit of account.
The report also provides some context by explaining the development of money from the commodity money to the current fiat money. The research also went to the general importance of cryptocurrencies and the challenges it needs to face to achieve the mainstream payments adoption. The report also mentioned the reputation, trust, incentives, usability, and regulation as the key factors in achieving mainstream payments for the next ten years.
As the research shows the potential ability of the cryptocurrency to become the face of future payment, it also discussed the obstacles to overcome. One of the major concerns focused on the report was the volatility. It also talks about the numerous attempts at solving the volatility of cryptocurrencies. Aside from the volatility, the paper also deliberated the scalability of the cryptocurrencies.
The authors of the research also discussed the various off-chain and on-chain solutions that are needed to develop as future solutions. However, a current study indicates that Dash can support 120 transactions per second and just half of what the PayPal can handle. Dash presently maintains its low transaction fees as well as the security.
According to the report, Dash can solve the barriers to achieve the mainstream payments adoption. Dash is making a technological development in solving various obstacles to mainstream adoption. Aside from its fewer volatility features, it can handle more transactions and provide more optional privacy in any business settings.
Moreover, Dash continues to develop in becoming more friendly when it comes to user interface and user experience. The features of Dash is helping the cryptocurrency to become the next face of the store of value, a unit of account and a medium of exchange. To earn more rewards with Dash, Rewards.com announced its partnership with Dash and soon expected to allow purchases at over 7,000 trades in Dash.
