Published
5 years ago on
August 14, 2018
“Currencies like the Pound and the Euro are interdependent and struggle in the face of global instability, while cryptocurrencies are decentralised and present a viable and stable alternative for businesses and consumers.â€Moreover:
"National currencies are reliant on people’s faith in governments and the global financial system. There’s nothing inherently stable about them. In economies that aren’t stable, we’re already seeing digital economies developing and thriving. Cryptocurrencies are based on secure, reliable technology, and are decentralised, which makes them an excellent tool to weather a financial storm."A financial storm could be the direct result of Brexit, according to Daychopan and that within this instance, developing cryptocurrencies like Bitcoin will come to the fore, as a result of their decentralised nature. See more for yourself, here. It’s difficult to know exactly what sort of role Bitcoin and cryptocurrencies will play during Brexit and a lot of it will depend on how GBP reacts to withdrawal. If the authorities reduce the impact to the British economy, Bitcoin probably won’t be much use other than as an investment, however, if GBP collapses, we’re looking at a totally new use value for Bitcoin in Britain, in the same way that Bitcoin could still begin to offer solace to those in Turkey at the moment.
