Crypto Corner with Moneybrain
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THIS week’s Crypto Corner focuses on Bitcoin’s anniversary and the impact the digital asset has had on the world to date.
Sixteen years ago yesterday Bitcoin emerged from the crypto cave and set in motion a wave of decentralisation that today sits at the heart of the agenda in Washington DC.
Having paved the way for stablecoins and other crypto currencies, Bitcoin’s emergence was the first step towards decentralised finance.
Bitcoin is known as a store of value similar to gold and, while this is true, it is also something more profound. It was a financial revolution outside centralised banks which enabled borderless, cost-effective payments.
This was truly revolutionary and banks have been trying to catch up with its cost efficiency and 24/7 on-chain settlements ever since.
How has Bitcoin changed the world?
Bitcoin has paved the way for profound foundations that are beginning to change the way consumers pay.
Stablecoins have skyrocketed in popularity leading to an on-chain economy with new stablecoins being created for the greater cost efficiency and borderless capabilities that they bring compared to fiat currency.
Crypto debit cards
Crypto debit cards are making paying with Bitcoin (digital asset) or stablecoin as seamless as using your bank card.
First, you had Gemini storming the crypto beaches with its Bitcoin-enabled debit card, which was great but was clunky in that you had to sell the Bitcoin on point of purchase to make the payment.
It’s not that it was a flawed system but it lacked the seamless back-room elegance of stablecoins. Nowadays, with stablecoins, you can make a purchase with a card from your crypto provider as simple as one, two, three.
Want to know more?
If you are crypto-curious and want to delve into the world of stablecoins, you can download the Moneybrain app and purchase our BiPS (digital asset) or Tether USAT stablecoin today.
