A major point that cryptocurrencies have helped drive home is that money is simply a store of value which can be in any form and serves as a means of exchange, not necessarily the legal tender of a particular country. The fact that cryptocurrencies are “digital currencies" coupled with the fact that you can't see one has helped us understand this.
As much as we see cryptocurrency as the future of finance, there are still a number of factors negating widespread adoption of the technology, these factors include, but are not limited to;
-Lack of Regulatory Facilities: A major drawback in the crypto space is fact that cryptocurrencies can be used to facilitate unlawful transactions. Since cryptocurrencies came to the fore during the last decade, there have been several grey and black market online transactions denominated in Bitcoin and other cryptocurrencies. This digital store of value is also becoming an increasingly popular tool for money laundering.
-Potential for financial loss due to hypervolatility and insecurity: Hypervolatility which is synonymous with cryptocurrencies is a major reason why some people have become wealthy by grasping their opportunities. This also happens to be a major factor hindering mass adoption of the technology. Many investors can't stand the thought of losing their hard earned funds to some “juvenile technology”. This volatility is tied to lack of inherent value of the coins. In terms of security, a lot has been invested into keeping cryptocurrencies safe, however, people still find ways to penetrate the seemingly uncrackable source codes.
-Lack of liquidity: This has been a mainstay issue with some cryptocurrencies as some coins lake any real use case. The holders often need to exchange them to more popular cryptocurrencies like Bitcoin and Ether before converting to fiat. This has gone a long way in suppressing demand for many cryptocurrencies.
Introducing BiPS Token
The BiPS token is a new digital currency which will be backed by property and assets in order to establish stability and give the tokens an intrinsic value. You can refer to it as an “asset token” and you would be correct in every sense. The tokens will be strategically sold in order to create stability and value for the holders of the BiPS token. This BiPS token exist in stark contrast to tokens which often have liquidity issues as it has a lot behind it to create value. The BiPS token will be a secure store of value which can be used to trade globally, both in and out of fiat and other digital currencies via it's secure BiPS digital wallet.
Some major features which make the platform one to look forward to include;
-Security: You can bank on BiPS for security of funds as the digital wallet for BiPS tokens will be issued under UK e-money legislation.
-Trust: You can be be rest assured when you invest in BiPS because it is backed by Moneybrain Ltd (Business to consumer mortgages and insurance since 1999), not to mention the fact that each team member have detailed profiles readily available on the webpage.
-Regulation: BiPS will be undergo Financial Conduct Authority (FCA) registration in Q1 of 2019.
-Privacy: Anonymity of transactions is a constant due to the use of smart contracts.
Personal Opinion
In order to enhance widespread adoption of cryptocurrencies, the crypto space needs people who have the mental capacity to be innovative and bring us one step closer to the dream land. It is my opinion that the BiPS platform certainly has enough going for it to start a revolution.
For further information, you can visit any of the links listed below;
Official Website: https://bips.moneybrain.com/?utm_source=bounty
Twitter: https://twitter.com/MoneyBrainBiPS
Facebook: https://www.facebook.com/BipsToken/
Whitepaper: https://s3.eu-west-2.amazonaws.com/bips-moneybrain/documents/Moneybrain_BiPS_Whitepaper_v1.pdf
#property #BiPS #peer2peer #tokensale #MoneybrainBiPS and https://bips.moneybrain.com/
Authors ETH Address: 0x6f54F652c650Cc6A7bed4C355B8Ce728C026C23E