In 2018, the world was reminded of a simple fact: cryptocurrency has been on the rise, and the first step to a more prosperous future is for the cryptocurrency community to work together to create an efficient system of payments.
That is the message of a new report released by the Global Fund for International Development (GFID), which seeks to better understand how digital currencies are reshaping the financial world.
The report, titled Digital Currency in 2030, aims to provide more insights into the emerging digital currencies, and is the first of its kind to address the issue of digital currencies in 2030.
“Digital currencies are disrupting the financial system,” said Rakesh Muralidharan, global head of the Global Finance and Policy Program at GFID.
“It’s not only the payment systems, but also the value added services that are being impacted.
There’s a need for a unified approach to these new digital currencies that would provide transparency to users, make it easier for investors to track and invest in digital currencies and reduce transaction costs.
It’s also important to understand how these digital currencies will evolve and develop over the next decade.”
Muralidarharan said that while digital currencies may seem like an emerging technology, they have actually been around for a very long time.
“We’re now seeing a shift towards using digital currencies to transact in real time and in a more efficient way,” he said.
“In the past, it was very hard to get information on the financial sector and the digital currencies.
Now, the whole financial industry is being digitized and digital currencies have become part of the finance landscape,” Muralidsaid.”
What the report highlights is how digital currency is changing the financial landscape, but we need to do more to ensure that we do it in a sustainable way,” said Joerg Mohn, chief economist at the World Bank.
“For the next 10 years, we need more research and more engagement between the finance and digital sectors, so that we can deliver better outcomes for investors and for the world.”
MintPress News and News & Technology