Influential organizations from different countries unite into consortiums and issue their own cryptocurrency
In the digital age, we should have expected the next stage in the development of the financial system – the emergence of cryptocurrency. The very first and most famous of them is bitcoin.
Famous companies interes for cryptocurrency
The success of bitcoin has led to the emergence of other types of digital money. Often influential organizations from different countries unite in consortiums and issue their own crypto.
Influential organizations of different countries unite in consortiums and issue their own crypto
In the era of digital technology should have expected the next stage in the development of the financial system – the emergence of cryptocurrency. The very first and most famous of them is bitcoin. The current bitcoin rate is quite high: at the beginning of 2023 it exceeds 20000 dollars.
The success of bitcoin has led to the emergence of other types of digital money. Often influential organizations from different countries unite in consortiums and issue their own crypto.
Interest of famous companies in issuing their own crypto
One of the first companies interested in issuing their own crypto was Kodak. This is a very famous manufacturer of photographic equipment in the world, which has been in demand for the last half century. Kodak issues crypto specifically for photographers. Immediately after the release on the stock exchange, the company’s shares rose in price by 120%.
Of course, Kodak Coin can not create a competition to bitcoin, but its own crypto allowed to increase user loyalty, and the level of sales increased noticeably. With the help of Kodak Coin it is possible to pay for paid services of the company.
Other companies are also interested in the idea of issuing their own cryptocurrency. For example, Telegram recently announced that it plans to conduct an initial public offering of tokens for the future launch of its own cryptocurrency.
Interest to crypto from goverments
The biggest prospects are for cryptocurrencies that are issued by consortiums. For example, a dozen major banks recently joined together in such a consortium to issue digital funds to be used between participants. Among these banks are the following names:
- Credit Suisse;
- Barclay;
- HSBC;
- Canadian Imperial Bank of Commerce.
These are very famous organizations from different countries. Things are moving in a similar way in Japan. The country’s largest commercial organizations will issue their own crypto under the supervision of the national bank. Among the participants of the consortium are 70 of the country’s largest organizations. The minimum rate of the new cryptocurrency is 1 Japanese yen.
In some countries, it is much more profitable to use cryptocurrency and keep savings in it. For example, in Venezuela, where the national currency depreciates daily. In Venezuela, crypto is used in parallel with conventional money.
Some countries have a more cardinal approach to the situation. For example, China or India. The leadership of the countries issues their own cryptocurrency, and any other digital assets are banned in the country.
In total, there are about 11000 different types of crypto in the world. Quite extravagant variants are also issued. For example, OneGramCoin, which is designed specifically for Muslims, or Bitcoen, which is used by Jews. In addition, some catering chains, fitness club chains, etc. issue their own crypto coins.
Of course, not all of the existing 11 thousand options are of interest to depositors or suitable for storing savings. The most popular are 20-30 cryptocurrencies. But the foundation has already been laid: cryptocurrency savings are an integral part of the existence of the modern financial system. It has a number of advantages over conventional fiat money, which is due to the peculiarities of the blockchain.
