Have you ever considered how your life and business would be impacted if cash was no longer legal tender?
In today’s Investors Forum, we reviewed compelling evidence for the impending roll-out of a cashless society. Cash no longer being King would obviously be a massive change that would affect all of us in unique ways.
With the rapid evolution of fintech and cryptocurrency, it is not a big stretch to imagine countries opting for a digital version of their currency and moving away from fiat. This would allow for complete tracking, monitoring and potentially even control of spending across the board, which could be very useful for Governments, although potentially problematic for us.
It is worth considering how this could impact your life and business now, so that you can more easily roll with any changes as they come.
We also had a look at the rise of Tokenisation and NFTs (Non-Fungible Tokens), which you may, or may not have some understanding of.
To give an idea of scope, currently the largest NFT marketplace on the planet is OpenSea, with 600,000 users. There have been over a billion dollars invested in NFTs in the last 12 months (see graph above for more figures). So with new platforms set to launch, through companies that already have databases of many millions of users, this industry is set for exponential and rapid growth that could break all records.
If you are yet to get your head around NFT’s, this article NFTs for Dummies: The Most Guided Explanation of NFTs is a great place to start 🙂
