Bitcoin is turning out to be a great place for wealthy people to place their money. The digital currency fintech offers a “soveriegn” product that could take a leadership position in the financial services sector. BloombergOpinion.com, shared an article via twitter regarding Bitcoin’s rally in the financial market, hitting a new record high close of $20,000. Bitcoin has an opportunity to take advantage of the financial services sector that is strong and capable of leveraging its strength and technological expertise in the post-COVID ienvironment.
The Covid-19 pandemic has disrupted business as usual. Changes in how people interact in public places, office environments and financial services have forced the population to operate under a new paradigm. Prior to the COVID 19 pandemic digital operations were an option for many banks, credit card companies and financial companies. Now it is a necessity. Technology infrastructure is being constantly examined and adapted for more efficiency and reliability. The availabilty of financial technology like Bitcoin, along with the need for social distancing and offsight work arrangements have made it a priority to interact in different ways.
Companies are taking a lesson from “Douglas Stuart’s “Shuggie Bain” which captured the misery of filthy coins and banknotes. The moral of the story, “money is always scarce and often dirty”. “The nightmare of Shuggie Bain was “having too few for a bus fare or the wrong sort for a phone box”, reports Newsbreak.com
All over the world people are managing their money thru phones, computers and terminals. Coins, paper money and bank notes are not permanent and will soon be gone. In most parts of the world almost all transactions are electronic. The U.S. is heading down that road. According to Forbes.com, since 2017 there have been more debit card transactions than cash transactions.
