In 2009, the first-ever cryptocurrency Bitcoin was launched by Satoshi Nakamoto, pseudonymous man or a group causing a massive stir in the world. A few were in its favor calling it a financial system of the future significantly diminishing the paper money and also giving a tug to the traditional banking system. Whereas, others opposed it forcefully predicting that Bitcoin and crypto lifespan is too short and they will die sooner. Being honest, the continuous ban and vigorous opposition from the world’s superpowers have favored the point of view of the grouped that claimed crypto transient. Regulators from the US to China, India, Britain and elsewhere proposed cryptocurrencies ban alleging them supporting illegal activities.
However, the landscape then changed following their functionalities that traditional financial system lacks. Now, we observe that the world is producing a soft corner for BTC and altcoins adopting them or hinting at their adoption. Recently, The Indian Council declared Reserve Bank of India’s ban on crypto illegal instructing them to keep their nose out of private business stuff as its jurisdiction comprises of inner working only. Though it further postponed the hearing to the next year, yet asked to come up with virtual currencies report as they are of different types.
Similarly, last week Jeremy Allaire, CEO of US-based Circle, also observed that China is also looking forward to softening its stance over cryptos following their primary role introducing more clarity in global macro-financial structure. Aimed at solving out trade war problems, currency conflicts, transparency and security issues, decentralized virtual currencies are heavenly free of government influence, acting purely on demand and supply factor. Moreover, the advanced crypto such as SGC Secured Gold Coin, asset-backed hybrid currency, offers more usability than any existing fiat or virtual currency with utmost innovation. On the one hand, it is highly secure and stable against fluctuation, while on the other hand, it is adaptable that can be used anywhere at any time from brick and mortar shops to e-commerce platforms without any hassle.