Loads of folks stay skeptical about cryptocurrency’s future. PayTabs’ CEO, Abdulaziz Al Jouf, isn’t a kind of folks.
‘It’s out of their management’
The cryptocurrency market is notoriously unstable and nonetheless stays largely unregulated — however that doesn’t imply it must be dismissed as a failed mission. In response to the CEO of the Saudi-based fee processing and fraud prevention firm PayTabs, Abdulaziz Al Jouf, “cryptocurrency is right here to remain.”
Al Jouf believes cryptocurrencies will live on and acquire reputation, as not one of the core issues which initially provoked Bitcoin’s creation — particularly, centralization and an absence of transparency in conventional finance — have been solved. He defined to Arabian Enterprise:
There are completely different dimensions and completely different instructions the place it will go. Remember that till as we speak, central banks are attempting arduous to ban [cryptocurrency] as a result of they really feel it’s out of [their] management.
For those who assume again to why cryptocurrency launched, it’s due to the large collapse in 2011… [It aimed] to verify currencies and cash is protected in all places.
Whereas cryptocurrency remains to be a good distance from mainstream, conventional finance hasn’t precisely regained the belief of the plenty after the financial disaster — and is nearly actually by no means going to regain the belief of cryptocurrency proponents.
‘Making Additional Bucks’
Al Jouf additionally believes cryptocurrency will stick round as a preferred solution to speculate and make cash by buying and selling in a unstable market. He defined:
Folks nonetheless use it for the enjoyable of creating further bucks. After all it’s dangerous and something new is dangerous. There’s numerous hype on how you can make cash out of it. I’m certain you heard that in the event you had purchased x quantity of bitcoin… You’re a billionaire as we speak. However in actuality, there’s an enormous challenge on how you can get this cash out of the cryptocurrency business.
Loads of corporations are already engaged on fixing this challenge — together with Al Jouf’s. As extra regulatory-compliant options come into play, cryptocurrency will solely be additional solidified as a viable technique of worth switch, hypothesis, and funding.