A shift in financial transactions that started about a decade ago accelerated during the pandemic. From ordering groceries to attending school, the world learned to take the digital way for their smallest needs. Blockchain, and subsequently, cryptocurrency and NFTs, suddenly became the center of this new digital era. Jason Fernandes, a renowned name in the crypto space, weighs in on how crypto will continue to thrive, forming a whole new future.

Inflation-Resistant Currency

"One of the biggest reasons crypto is bound to flourish is: it is the only currency that protects you from inflation," says Jason Fernandes,.

With time, inflation dilutes the value of fiat money (USD, Euro, Pound, etc.). That's because governments control fiat currency, whereas cryptocurrency is decentralized, which means it lies (almost) out of any single government's control.

This implies that cryptocurrency's value will increase over time, whereas traditional currency's value will decline simultaneously.

A Strong Opponent to all Other Investments

Traditional investments like stock and gold have taken a real hit since crypto came around. That's because the stock market is way too volatile. It's up one day and crashes the next. It's always a gamble for common people to invest their hard-earned money in such channels.

Gold, on the other hand, has been slowly losing its appeal. Its prices are dropping, and people no longer regard it as their first investment choice. Not to mention, the "storage of precious metals like gold and silver is a real hassle, along with facing some serious issues of portability," adds Jason Fernandes. 

Redefine Ownership

Blockchain changed the definition of ownership. Money was previously entirely controlled by the respective governments. Nobody could think of a world with a reality that looked otherwise. That is until cryptocurrency came along. Living on the decentralized Web3 network, this money has no owner – or everyone is the owner.

Now you don't need banks. You don't have to rely on middlemen. With peer-to-peer trading, transfer money to anyone without worrying about international boundaries, bank charges, or fraud and identity theft.

Create a Crowdfunding Revolution

Many industries, especially the arts industry, have long suffered due to insufficient funding. Artists for decades have had to plead their case in front of ruthless suits. Fans love their passion projects, but suit-clad executives love money alone.

"With cryptocurrency, artists can now skip the begging and pleading entirely and go straight to their fans for funds," says Jason Fernandes,. NFTs (traded using cryptocurrency) can be the source of funds for massive passion projects.

Termed crowdfunding, cryptocurrency has helped open the doors of creativity.

Speed, Security, and Finances

Traditional wire transfers are known to take several working days. Crypto transfers happen within a fraction of a second. "Send money from one country, receive the entire amount in another country within less than a second," explains Jason Fernandes.

Military-grade systems take charge of your money, with encryption keys keeping your accounts safe.

"That is the future cryptocurrency is creating – and it is nothing but promising," believes Jason Fernandes.

Follow Jason Fernandes on Twitter at @TokenJay