Deutsche Bank Talks About Global Economic Power Shift – Crypto Will Gain Broad Acceptance
The era of traditional finance is about to end and this is being recognized by more and more financial entities.
Blockchain and cryptos bring a massive innovation that is currently revolutionizing finance, and their recognition is on the rise.
The future of digital assets
Deutsche Bank released a new report on the future of crypto.
The bank’s researchers say that cash will be around for a long time, but they also cite various factors that may push crypto at the top of the digital economic transformation, including mass adoption by Millennials.
The report is titled, “Part III. Digital Currencies: the Ultimate Hard Power Tool.”
It reveals that China and India are driving the global economic shift as they are rolling out new peer-to-peer strategies for digital payments. The entity that’s being put at risk is the US dollar, as the online publication, the Daily Hodl reveals.
“As China (and India) develop electronic, crypto, and peer-to-peer strategies, the epicenter of global economic power could shift.,” according to the report.
The notes continue and reveal that “China is working on a digital currency backed by its central bank that could be used as a soft- or hard-power tool. In fact, if companies doing business in China are forced to adopt a digital yuan, it will certainly erode the dollar’s primacy in the global financial market.”
Cryptos will gain mass acceptance in the near future
The advantages for investors are also debated in this report.
“Cryptocurrencies have been around for about a decade, but it was not until 2017, when bitcoin’s price surged to nearly $20,000, that they grabbed significant global attention,” says the report.
The bank talks about a “near future in which cryptocurrencies gain broad acceptance. This view is supported by trends among young generations who readily accept digital currencies and payments.”
The bank surveyed 3,600 customers in order to write this exciting report.
We strongly recommend that you check it out.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.