by Kate Goldfinch, Editor of The Fintech Times
• Low transaction fees, fast worldwide transfers, financial transparency, high level of security, and no borders – are the bene ts of crypto and blockchain world.
• The main bene t will be disintermediation; eliminating middlemen, and bringing permissionless financial infrastructure to every corner of the earth.
• It’s an opportunity for everyone to participate democratising wealth and access to resources.
• Blockchain and distributed ledger technology promise that individuals will take control of their personal information.
• Companies can become less reliant on centralised systems that are prone to concentrated cyber attacks.
• Without government support,
some of the blockchain technology infrastructures and applications can be blocked from happening.
• Anonymous and decentralised applications might be misused by terrorists, black markets and dark web.
• ICO project scams bring disastrous e orts to some people supporting blockchain developments.
• High volatility makes cryptocurrencies a poor choice for regular commerce and business transactions
• The slow processing times and significant use of resources for mining, are hampering widespread adoption.
• The issues with hackers breaking into exchanges make the crypto-economy an uncertain place for individuals or organizations.
Peer-to-peer transactions and the challenge of tracking the ow of money will be both a threat and a bene t, arising from the greater potential for money-laundering but countered by the opportunities available from anonymity and AI-powered robo-trading.
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