CUDCryptocurrency, The end-all-be-all of money?
A lot of people who are very enthusiastic about cryptocurrencies have been imposing claims that bitcoin/cryptocurrencies, in general, are the future of money and is the current path where money is headed to. Pieces of evidence speak for both possibilities where things could go south and sour for cryptocurrencies, with it either dying off as another bubble economy as what fiat enthusiasts and bankers claim it is, or for it to just flat out stagnate and stay as a store of value and a way for the rich to get richer, which is dystopian if I do say so myself. It can also go the way cryptocurrency proponents envisioned it to be, and have it replace fiat overall in all of its use-cases, sparking a paradigm shift into a new age where digital money is king.
Amidst all these, however, the question has to be asked, should money be the endgame for cryptocurrencies? Are there no other applications for it besides being used to trade commodities?
I believe the answer is supposed to be no, but the current situation calls for cryptocurrencies to act primarily as money since fiat and crypto are pretty much connected still and the situation will persist for a substantial amount of time up until at least when bitcoin or a rampant cryptocurrency in the market reaches a certain threshold in their growth where they can sustain circulation while maintaining a fair and considerable value.
Most projects in the cryptocurrency industry dabble both in the money aspect of cryptocurrencies, and its technological side as well, talks about getting the best of both worlds. This however wouldn’t always sit well as numerous projects who promise to revolutionize the way people perceive cryptocurrencies have failed to deliver such promises and were left in the curb to rot and be history’s casualty. Some took advantage of the people’s need to find feasible yet innovative use-cases as leverages to take advantage of them and fool them out of their money, which is why scams and rug pulls are so prevalent in this industry you can almost always assume that most seasoned investors got scammed themselves, more like a rite of passage.
Beyond this monotonous bunch, however, CUDOS stands above mediocrity. Yes, they handled the economic aspect of cryptocurrencies, yes, they are also working on technologies and subprojects that promise a better quality of life primarily for their investors and the industry itself, but what they have that so many cryptocurrency projects lacked is the innovation. And in the case of CUDOS, this came in the form of capitalizing in a cycle where you profit if you help in improving the quality of life of your fellow investors. Evident in their system that is laid under the foundation of Proof-of-Stake, a known alternative to the Proof-of-Work that lacks the scalability aspect.
So far, they have been nothing but exemplary in delivering the promise to their investors, and most of all, since this concerns the whole cryptocurrency industry, they are also actively partaking in making things better not only for the patrons of CUDOS but for the whole cryptocurrency world itself.
So is cryptocurrency going to be another dime-a-dozen (pun intended) money alternative, not quite. With projects like CUDOS existing, we can at least rest easy that not only will cryptocurrencies be stuck as your menial trading implement, but as a technological prowess as it is supposed to be noticed.
