Baku, Azerbaijan, Aug. 15
By Farhad Daneshvar – Trend:
UK-based expert has forecasted bright future for Bitcoin in Iran and post-Soviet countries, as the digital currency keeps climbing.
"For many places, like Iran and post-soviet countries, Bitcoin is being embraced for the intellectual challenge, as well as the wealth creation opportunities. With the vast intellectual and technological abilities of many people in these countries, and the wealth gap in existence, Bitcoin provides freedom and has a bright future," Derin Cag, Board Member at Humaniq told Trend.
Bloomberg on August 14 reported that Bitcoin soared past $4,000 for the first time on growing optimism that speedier transactions will hasten the spread of the cryptocurrency.
"The simple effort of accepting Bitcoin nationwide could increase tourism, soft-power and GDP of countries by a substantial sum. For example, CoinMarketCap.com receives +50 million unique visitors per month, and this crypto community would seize such opportunities," he said.
"The financial freedom arising from Bitcoin is a new concept to many people, because institutions have been in control of money supplies since the history of banking. Bitcoin is more than a currency; it gives people sovereignty by allowing them to be their own financial institution, without third-party involvement. It is an immutable and economic asset for any country using it, and first movers will have an advantage," Cag added.
"The underlying blockchain technology behind Bitcoin is here to stay and will be used as the critical infrastructure of Industry 4.0, directly becoming the foundation for innovations such as Artificial Intelligence, Deep Learning, Internet of Things and Driverless Cars to name a few," the expert suggested.
"And inside all of this, Bitcoin represents the democratization of money on a global scale!"