FINANCIAL SERVICES also play a major role in the future of alternative finance .
“ As prosaic as it may be , we are confident that cryptocurrencies will be one of the beneficiaries of the current instability despite being the hardest hit by this downturn ,” says Popowic .
Popowic believes that many institutional players and payment networks see crypto as a long-term solution to cross-border transactions , looking at its technological potential rather than seeing it as a way for people to gamble .
“ We are already seeing emerging economies such as Vietnam dominate global adoption . There , cryptocurrencies are used to send crossborder transactions and hedge against volatility . In fact , by providing the ability to manage digital money , more people get the opportunity to control , invest and store their funds .”
“ Just think about it : 10 years ago , people could hardly invest in the stock market . Today , everyone can invest from their phone – and many do ; what the crypto industry is building today will be what helps democratise finance tomorrow .” fintechmagazine . com 73