We are coming to a point and time where our current financial system is falling apart, piece by piece. As our current financial structure struggles to be held together we must look into the future of a new digital, financial system and the potential problems that lay ahead. If we don't we will face similar problems that our financial system is flawed with.
If you needed a definition for insanity I couldn't think of a better one. From what we've learned from our current system if we don't take the proper steps to establish a more stable financial system we are just making the same mistakes over and over again. For example, there are over 13,000 different cryptocurrencies and more to come. And just about anyone can create their own.
In my opinion this is a huge technical flaw that could have bigger consequences in the future. in a way it's similar to making counterfeit money, but it's not considered that. But take one step back and think "How could this effect the value?" Not only would it effect prices, but how people trust the cryptocurrency system.
As I've wrote before I speculated in the future there will be laws placed on cryptocurrency, how it's mined and who can mine it. At first I was troubled but If there isn't regulations placed in the future and anyone can create their own money and mine it at will how will this effect the stability of it all?
It's not hard to figure out the consequences if issues are not dealt with correctly. We just have to look in the past and make drastic changes to ensure a new dawn of finances that won't fail us like in the past.
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