Where is the money?
It’s the year 2020, and most of what we the world knew as a normal way of life is no longer the norm. Infact the world has witnessed so much change within such a short space of time. Anything you can think of from business to recreational, from education to entertainment, all has been affected either by one way or the other.
With the world filled with uncertainty especially with the current global pandemic, a lot of strong structured business models that were constructed on the traditional buyer and seller platforms, are having to adapt to a new way of business. Online.
Due to the outbreak of the novel Coronavirus also known as Covid-19, the world as whole has come to adapt to a preventative measure of dealing with the virus by social distancing as the virus itself is easily spread from person to person mainly through contact among other known ways of transmission.
As such a prominent example of this is many companies and some financial markets have had to shut down normal day to day operations with the resolution of having their employees work from home. This was and still is as a result of the Movement Control order imposed by governments of almost every country world wide. A move that is seen to have also resulted in the closing down of a lot of airports worldwide restricting both regional and international travel. Airlines such as Emirates Airlines, was among the first to announce they will be grounding their fleet to curb further spread of the Coronavirus.
Image courtesy: [Flight Global]
As days and weeks passed, other airlines began following this noble move.
Unfortunately this however noble a gesture became a great inconvenience to a lot of stranded travellers that would have intended to return back home to be with family during this challenging period.
Cutting to the chase
“Every problem has in it the seeds of its own solution. If you don’t have any problems, you don’t get any seeds.” – Vincent Norman Peale
Yes so there has been a global inconvenience and a lot of restrictions known globally. It is important to remember that every problem requires a solution. Some problems already come with solutions, the trick therefore lies in finding that solution.
Although some solutions require more time than others, but the ones that can be solved immediately should be solved immediately.
My question therefore is for those of us who are investors, shareholders and traders where should one invest his or her money in this current global situation? Transport? Pharmaceuticals? or is it Farm produce? or perhaps real estate?
Initially i was of the idea that this would be the best time to invest in digital currencies such as bitcoin for mainly two reasons:
- With one of the said known methods of transmission of the virus being attributed to handling money (Fiat currency), or using ATM machines. Digital online transactions have become a solution on the basis of safety with no physical contact.
Cryptocurrencies have not been, well exactly best friends with the banking system and by nature their existence is inversely linked to that of the banking system.
- My second bit of logic is this: if everyone is seeking fiat currency now to facilitate purchases of basic necessities which unfortunately can be purchased via fiat money, the move devalues the value of cryptocurrency right now (and this has been the case so far with Bitcoin)
Now will Bitcoin re-gain value when and if the pandemic is under control? I think yes.
“-All asset classes have dropped. Everyone wants Liquidity. Cryptocurrencies will rise in the long run as alternative asset classes and once the technology becomes mass.” – Kyri Andreou
Now we know the current state of affairs will not remain the same, but it is alway advisable for one to always have a keen eye on factors that affect the economy, their investments and the future.
My take? Investment opportunities will spike up in Digital payment systems and trade, and confidence will drop in the case of normal bank notes. In Fact I’d recommend banks to introduce some form of digital token to remain relevant in the financial future ahead.
On May 28th I had the privilege of being one of the invited guests at a blockchats dinner hosted by Glitzkoin, and it was at this event i became aware of this brilliant concept that was presented by by the company`s CEO Mr Navneet Goenka.
Two things you might want keep in mind when you hear the name Glitzkoin, number one Diamonds and number two, money, and What money? crypto curreny through the blockchain technology.
Glitzkoin also dubbed as “the superior Diamond blockchain with Crypto currency.” is to my finding a revolutionary concept in the world of crypto currencies and digital tokens.
So,What are they about? Easy: Money, diamonds, diamond money… well atleast this is what i personally thought at the beginning and it does turn out that my simple understanding was not too far off the mark. Yea!
“… GLITZKOIN seeks to build a blockchain based open ecosystem for the diamond industry where all the trade in diamonds can be conducted and coordinated.
GLITZKOIN is a global startup that uses the best of emerging technology including blockchain, smart contracts and machine learning to assist in the reduction of risk and fraud for banks, insurers and open marketplaces in the diamond and precious stone industry. We provide a full ecosystem for the diamond industry from a supply chain solution, to tracking & certification of diamonds and finally a decentralized exchange for the trade of diamonds and related services.” https://www.glitzkoin.com/about
So will this concept work? well there is more than one way too look at that question and also to define who the concept is designed for. A quick answer will be yes it does work, it works for both the trader, and the investor. By virtue of this being a “decentralized exchange” it nips out the middleman, reducing the amount of time it would have normally taken to execute a trade. And i’m sure like most things in life there is bound to be pro`s and cons, but at this moment i am yet to identify any downside to this concept.
Two other very important global companies that were present were Ataplus and their focus was on their Rohingya Project, and Spindle, sharing on the firstmatch-making platform for privet users and crypto-currency funds. Anyway we shall revisit those two giants in future articles.
Disclaimer: The above points or ideas i brought out are purely my own and to get a better understanding of Glitzkoin, please visit their website :https://www.glitzkoin.com/
Money, Money, Money! This is what the world seems to be chasing right? To some of us this chase is an active one and to some its passive, but still a chase non the less. Which is why a little knowledge on this very important subject will go a long way in understanding and having significant control on how we distribute our wealth throughout the course of lives.
It is important to pay attention to what i`d love to call “new money”. Not Just I alone but a very large number of people are aware and are actively getting engaged in Cryptocurrency in one way or the other.
It is my utmost pleasure, joy and delight to bring some of the fundamental aspects of cryptocurreny and the whole Fintech world to you in ways that are not only highly informative but also inspirational to enable all us to have a better knowledge of “the new money”
So please do stay tuned in, signed-in or subscribed to learn some brilliant things happening in the Fintech world whether you are an investor or trader,You are gonna love it.
“Fortune sides with him who dares.”