Advantages:Cryptocurrency Update: Past,Present,Future

Using
your Crypto in Real Life is About to Get a Whole Lot Easier
~credits for the image: google.com
Using your Crypto in Real Life is About to Get a Whole Lot Easier

The Past

A few years ago, when cryptocurrency values skyrocketed, many people profited immensely. Emerging from a prolonged recession, the future seemed brighter than it had in years for many. However, there was one overlooked detail: they couldn't actually spend their newfound wealth. Vast amounts of Bitcoin and ETH were more secure on the blockchain than gold coins buried deep underwater, wrapped in smart contracts and protected by the decentralized security that blockchain pioneers worked hard to establish. This security meant that users couldn’t access their funds for everyday spending.

As is common with innovators, the developers of cryptocurrency and blockchain technology envisioned a new way of managing, storing, and transferring money. They aimed to revolutionize the financial landscape but didn’t provide a means to purchase basic necessities—things like shoes, paper towels, or meals.

Buyers and sellers were accustomed to the conveniences of fiat currency. They built their livelihoods around cash, credit cards, debit cards, and direct electronic payments from fiat accounts. Cryptocurrency, however, lacked the flexibility that traditional financial systems had developed over time.

The Present

Due to the significant time and effort required to process any transaction on the blockchain, converting cryptocurrency to fiat currency for practical use proved impractical. Although exchanges eventually emerged, they remained complex, time-consuming, and costly for everyday purchases.

People invest in cryptocurrency for various reasons, including a desire for privacy, escaping central banking, or a strong emphasis on security. Regardless of their motivations, one thing is clear: those who believe in cryptocurrency see it as more than just a quick fix for financial dissatisfaction. Most hold a deep-rooted belief in the potential of blockchain technology to effect global societal change.

The concept of social scalability—the ability of a society to thrive by automating everyday tasks—is central to this belief. Social scalability began with fundamental advancements like language and agriculture, and later included critical developments such as running water, electricity, assembly lines, and, of course, the internet.

The original visionaries of cryptocurrency aimed to create a system that would simplify and enhance society, enabling us to achieve greater accomplishments and improve life for more people. Yet, without a straightforward way to spend cryptocurrency, a significant gap remains in their vision.

To fully realize this vision, it’s crucial to make crypto easily spendable for everyday needs. The ICO newcomer Zeex has developed a platform to address this challenge, allowing cryptocurrency to be seamlessly converted into a widely accepted and usable currency: gift cards.

Gift cards represent another element of financial social scalability, widely embraced by younger generations, particularly Millennials and Gen X. However, the gift card industry faces challenges, including double spending, inconvenient expiration dates, theft, and supply shortages.

The Future

The Zeex platform addresses the inherent issues and risks in both the cryptocurrency and gift card markets. Their approach results in a straightforward solution that allows for the exchange of cryptocurrency and gift cards.

With Zeex, cryptocurrency becomes easy to spend. The fees associated with converting crypto to fiat do not apply to gift cards, making this a financially attractive option. Transactions are processed quickly, making it both timely and practical for obtaining items like new technology, household supplies, or celebratory dinners.

Conversely, gift cards can be purchased in any amount and are simple to use, as they are typically accepted at both physical and digital retailers. Even unwanted gift cards can be easily exchanged.

With industry experts in both the fiat and blockchain realms asserting that cryptocurrency is here to stay, the next logical step is to make it usable in everyday situations. The gift card industry is growing at a rate comparable to that of cryptocurrency, with $149 billion in sales reported in 2017—a 54% increase over the past decade. This innovative merger of the two platforms is likely to benefit retailers, consumers, and the financial market as a whole.
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