## A Robust Tomorrow for Virtual Currencies
Digital currencies and blockchain technology are nascent, yet they embody a potent force poised to reshape the global tech scene. Even in these early stages, their influence is irrefutable. The merits of digital currencies are evident. For companies and individuals, the initial allure lies in the swiftness, ease, and affordability of transfers. But underpinning this is the inherent openness and distributed nature offered by the underlying blockchain technology – an immutable, auditable log of all transfers on a shared public record.
Early implementation of distributed ledger technology (DLT) supporting digital currencies provides businesses with a substantial edge. They can witness the technology’s progression and be at the vanguard of future breakthroughs. This is apparent in the surge across sectors to integrate blockchain technology in novel ways often distinct from its initial use with virtual assets.
Healthcare is but one field starting to acknowledge blockchain’s promise. The technology presents a secure method to document and disseminate confidential patient data, safeguarding against data compromises. While numerous healthcare providers perceive the vast advantages of deploying this technology, a knowledge gap currently impedes its broad acceptance.
Digital assets face a challenging climb. Although their possibilities are evident, a shadow of ambiguity and hesitation persists. Numerous individuals remain dubious of digital currencies such as Bitcoin, in spite of their clear benefits. This suspicion likely originates from their connection to illicit online activities in their initial phase, and the reality that many nations are still unwilling to establish rules for them. Malta, conversely, stands apart. They’ve been a frontrunner in welcoming crypto and distributed ledger technology. Indeed, Malta achieved a milestone this year by becoming the first nation to establish a regulatory structure for both. However, while Malta might be progressing towards a blockchain-powered future, the remainder of the world remains cautious. The extensive acceptance of digital currencies that many foresaw is still far from reality.
Several factors contribute to this. A primary one is the regulatory ambiguity surrounding them, and the straightforward fact that conventional payment systems are still more user-friendly and pragmatic for the majority. Moreover, the value of established digital currencies like Bitcoin experiences significant swings, making them inherently unpredictable and thus too volatile to be deemed a genuine “currency.”
The value of digital currencies, influenced by the unpredictable nature of market forces, can be quite a wild ride. This instability makes them a precarious investment for individuals and a challenge for companies contemplating their use for transactions. Stablecoins seek to address this issue. By linking their worth to more steady assets such as the American dollar, they provide a predictable option. Imagine it this way: for every stablecoin in use, there’s a corresponding sum of traditional currency held, ensuring its stability. This positions stablecoins as a link between the conventional financial system and the thrilling, though occasionally volatile, realm of crypto. While they share the advantages of safety and distributed control with other digital currencies, stablecoins prioritize steadiness, mirroring the dependability of conventional currencies. This straightforwardness and familiarity are central to their attractiveness. The aspiration is that stablecoins, with their assurance of a steady yet decentralized digital currency, will clear the path for broader acceptance of crypto and blockchain technology. While this transformation might not occur instantly, the possibility undoubtedly exists.
The financial sector is abuzz with talk of stablecoins! These digital tokens are seen as an innovative and efficient method to optimize financial processes, and importantly, they don’t necessitate a complete revamp of current infrastructures. Naturally, as with any emerging technology, challenges exist. However, should stablecoins fulfill their potential, they could close a critical divide, making digital currencies more dependable and accessible for all.
One organization, GanaEight Coin Ltd (a member of the Ganapati Group), is keenly exploring this possibility. They are combining their blockchain proficiency with their online gaming experience to develop G8C, a groundbreaking casino stablecoin. They posit that G8C can serve as the connection between the dynamic realm of virtual assets and the excitement of the gaming sector, all within a secure and open system. Eager to discover more? Visit the Ganapati and G8C representatives at stand P313 during SiGMA 2018!