Use of cryptocurrencies in markets
Cryptocurrencies have appeared as a great technology “boom”. Although they were announced recently, large transactions are taking place with them. The great relevance that they have acquired lies in their intervention in many sectors such as technological, economic, comercial and informative sectors, and they are beginning to generate social and political debate due to their decentralization and lack of regulation.
Currently there are some doubts about cryptocurrencies and an impulse that leads them to become standarized payment system is expected.
After the great enthusiasm with which they were received at the beginning, they are now going through a period of stabilization. In 2017, they obtained a large increase in their value, which was subsequently reduced to the stabilized levels it currently has.
Cryptocurrencies could have their great emergence when they will consolidate themselves in the international markets, and in this way they will become an efficient transaction method for users aorund the world. Its global recognition will depend on whether international businesses take advantage of this system as a deregulated system in which the states do not intervene or intervene minimally in their transactions. In the case of Bitcoin, this market has never been compromised since its creation and today ensures more than one hundred billion dollars like total transaction amount.
The blockchain technology used by cryptomonets solves one of the major problems of transactions, counterfeiting. It is estimated that counterfeiting could cost the international market $1.9 trillion until 2022. The security provided by the blockchain system solves this problem, generating an efficient response. The security could generate great confidence in this technology too.
Whether or not Cryptocurrencies could generate a new international market depends on the actions of traders and buyers, their confidence in them and their adaptation to the system. However, there is no doubt that the potential of cryptocurrencies with respect to the change of the economic system has already been generated and this is waiting to be, or not, developed by the users.