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A look into the future
Public blockchains such as Bitcoin and Ethereum will fundamentally transform the way in which people experience the world of finance. As we have seen, much of the crypto world is still a work in progress. Blockchain networks are currently going through the acceptance phase entailed by the monetisation of their specific blockchain-based tokens and in layer 2 use case in decentralised financing (DeFi). Unsurprisingly, it is the trading and price aspect that dominates the debate currently.
It is already becoming apparent how our approach to money can be expected to change. With the right apps, we will be able to send and receive money via blockchain protocols within a matter of seconds in the future – around the clock, seven days a week and 365 days a year.
Money will ultimately become a fluid concept. As well as facilitating micro-payments that allow any content on the internet to be financially supported, this development will also lead to the possibility of “streaming” money. What does that mean? As long as their acti- vity is backed by a proprietary digital wallet, users can – for example – read an article, watch an online film series, or attend a video conference. Thus, a lucrative market will open up for producers of all kinds of content.