It all started with a white paper and a promise of mass adoption of a totally new financial concept, when Satoshi threw its baby to the world. Baby Bitcoin hasn't had the perfect start in the world, but neither Jesus did. They'll all adhere to "Bitcoins religion" whether they like it or not.
Crypto has been designed to resurrect fossil financial systems and that's what it's doing, no matter the bills and pills any government would throw at it. Let that be clear. Crypto will be like the internet in a decade from now and banks will for sure be disrupted by it.
Circle plans to become a full-reserve national digital currency bank and is willing to operate under the supervision of the Federal Reserve, the U.S. Treasury, the OCC and the FDIC. Circle Wants to Be a Bank... a good one.
“We believe that full-reserve banking, built on digital currency technology, can lead to not just a radically more efficient, but also a safer, more resilient financial system. Establishing national regulatory standards for dollar digital currencies is crucial to enabling the potential of digital currencies in the real economy, including standards for reserve management and composition."
-Circle co-founder and CEO Jeremy Allaire source
Sooner than later we will be able to say bye bye fractional reserve banking. That will definitely not happen over night, but it's in this process of alchemy that the society is going through. Many of the so called "normal things in life" are under such a process of alchemy as we're gradually entering an era where value shall be reflected by something, even if its just consensus on anything, and won't be determined any longer by an entity or a group of individuals.
If you've paid enough attention to the crypto space over the years you should have spotted this "proof of something" trend. We have proof of work, proof of stake, proof of brain as social media networks as Hive are, and who knows what comes next. "A new type of palpable is being born" and I'm not pointing to a newly discovered precious metal.
We're still far from a high level of mass adoption for crypto, but the process is spinning its wheels being unstoppable at this point imo. Crypto payment firm Alchemy Pay is planning to roll out a crypto-linked virtual card that is accepted on the Visa and Mastercard payments networks.
"Hybrid crypto-fiat platform Alchemy Pay announced Monday that the company would be launching virtual crypto-linked cards accepting more than 40 cryptocurrencies such as Bitcoin (BTC). The new cards can be linked to Google Pay and PayPal digital wallets and make payments across the Mastercard and Visa networks, as well as popular e-commerce platforms such as Amazon and eBay."
source
Somehow Amazon is going to accept crypto, although not directly, but it's a step forward in that direction. Cryptocurrencies acting as actual currencies is a process that has to start somewhere and as I have stated in a couple of posts of mine, such payments options as Alchemy Pay and the Binance VISA card and others are the pioneers fueling the process.
There's a lot of FUD regarding crypto that's somehow intentionally poured in the media at certain times, but reality is that this industry is pushing forward. Crypto is no longer what it was four years ago. Crypto will be totally different four years from now. It all started with a protocol, a white paper and a bold promise and those have fueled the brains to create whole worlds and economies in the digital space.
Look at how much Hive has evolved in a bit over a year and imagine where it will be the next bull cycle. I got to be honest, it's even hard to keep up with all the novelty in this space. Some trends will grow roots, some won't, but we're heading in the right direction. That's for sure.
Financial freedom should be a given and will be a given for most of the ones involved in crypto and with not much efforts. Crypto is redefining in so many aspects and that's its nature. If you're reading this and own a coin or two or are involved in any crypto project, you should consider yourself lucky, you're an early adopter. An alchemist...
Thanks for attention,
Adrian