2018 has been a roller coaster ride for the cryptocurrency industry. Still, regardless of the struggles, the CEO of the digital solutions firm of PayTabs, Abdulaziz Al Jouf, admits believably that cryptocurrency is here to stay.
Arabian Business reported recently, Al Jouf said that it is implausible a ban will be enforced unfavorable to cryptos.
He further shared that this may happen by going to different dimensions and directions keeping in mind that until today, central banks are trying the prohibition for the fear that cryptocurrency is out of their Jurisdiction.
Al Jouf believed, with the ongoing cryptocurrency exchange in ten countries across Asia, the Middle East, and North Africa will provide remittance industry with much-desired boost solving bigger problems than just investors trying to create additional income.
Currently, they are working on a faster process sending money abroad between two countries making the transfer a pleasant experience and hard earned money readily available to the recipients of the sender.
Due to the volatility of the cryptocurrencies, there has been a widespread of misconceptions leading to businesses not really interested in virtual currencies. However, still many trusts that these cryptos can and will make a big impact on how the future will be viewed in terms of money.
The CEO also shared reminding why cryptocurrency was launched, it was due to the massive collapse in 2011, aiming to assure currencies and money is secured everywhere.
Al Jouf also disclosed his lack of confidence in the current form of blockchain technology saying it’s not doing anything with much questions of why you need to use blockchain and how to administer it to your business.
Apple co-founder Steve Wozniak spoke profoundly of a specific virtual currency earlier this week giving hope to the crypto world saying Bitcoin will serve a single global currency.
Nonetheless, Ripple CEO Brad Garlinghouse contravene this statement by saying Bitcoin could eventually become the “Napster of digital assets.”
What do you think?
After seeing both sides of the coin by two prominent figures the best way is still to gain much knowledge of the matter.
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