CRYPTO-CURRENCIES AND BLOCKCHAIN TECHNOLOGY CAN FULLY ENJOY UNBANANCED POPULATIONS
Crypto-currencies could soon - thanks to the blockchain technology on which they are based - become an unavoidable means of exchange around the world, and particularly benefit unbanked populations.
Not so long ago, many observers were decrying blockchain technology - a technology that is based on a currency considered to be sulfur, Bitcoin.
However, for some time, it seems that there is a real changeover: part of the public is beginning to see the benefits that this decentralized technology could bring.
While digital currencies have, for the most part, seen their prices soar since the beginning of the year, they seem to have also grown in popularity.
These include the two major US futures markets, CBOE and CME, both of which launched Bitcoin-backed financial derivatives in December. The Nasdaq is expected to follow suit in 2018, also giving Bitcoin new legitimacy - an asset that, it is recalled, is not supported by any central authority.
Blockchain technology could boost banking inclusion
For Jonathan Johnson, president of Medici Ventures and board member of Overstock, the democratization of digital currencies among the general public should quickly intensify.
In a recent interview with TheStreet newspaper, Johnson said:
« We see an increase in cryptocurrency purchase volumes on the Overstock website. The adoption of cryptocurrencies is underway, there is no doubt. "
Overstock is known for its enthusiasm for crypto-currencies: in 2014, the company became one of the first major companies to accept payments in digital currency.
Since then, Overstock has embraced innovations related to blockchain technology. In the same year, the company created a subsidiary, Medici Ventures, whose mission is to finance companies offering products or services related to this technology.
Mr. Johnson added:
Cryptocurrencies will enable people around the world to participate in the global economy, especially those that are not currently banked. "
This would be a significant step forward given that 2.5 billion people in the world today do not have a bank account, according to the World Bank.
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