The blockchain technology has been enjoying great strides of progress in terms of mass adaptation., thanks to the big tech companies and financial institutions starting to focus significant resources to develop the blockchain technology for the public.
Omega Prime Group, a fintech startup based in London, is also helping push the technology for the public. Seeing the great potential on the emerging decentralized economy, the company started building infrastructures to harness the blockchain. As a part of their efforts to expand their operations, they acquired Hashtechz, a software development company focused on building trading bots that uses data-driven AI.
Their mission is to offer low risk investments with the potential for high returns. Since their public launch, the members of their platform has been getting an average of 20% in returns on investment month after month according to their monthly financial reports.
Recently, Omega Prime Group has presented their technological portfolio at a financial tech conference held in Jeju Island, Korea. The conference was attended by over 600 investors keen to take part on the growing blockchain technology opportunities.
Justin Hale, CEO of the Omega Prime Group who conducted the presentation said, ” Given the current wave of disruption, decentralized finance lies at the core of our investment thesis. Critically, we believe that by leveraging advances in AI and the proliferation of structured data, we can position ourselves as a powerhouse at the center of the De-Fi revolution. By doing so we can enable our stakeholders to profit immensely in the coming shift towards a decentralized economy.”
Although Bitcoin has been around for years, it’s only in recent times that it’s started to take the world by storm. The popular technology, which doubles up as a decentralized payment network and a type of cryptocurrency, has exponentially grown in usage, popularity, and price, but why?
Some may say it’s because everyone is jumping on the bandwagon. Others may point towards the increased exposure in the media, but there’s no denying that it’s spreading like wildfire.
In fact, the value of Bitcoin is now well into the thousands, which demonstrates exactly how quickly it’s progressing.
Here are some of the biggest reasons behind the staggering rise in popularity.
Comprehensive Security Measures
When it comes to purchasing something online, you desire the peace of mind of knowing you aren’t going to be exploited by a hacker. With conventional forms of payment, such as credit and debit cards, you’re always going to be vulnerable to fraudulent activity due to inputting your details. That’s why more and more people love Bitcoin; it allows
you to make transactions securely because of its strong encryption that the technology possesses. Also, since none of your personal financial information is connected to it, your identity can’t be stolen.
More Recognized Globally
Ironically, a key component of the popularity incline is the fact that there is a popularity incline. You see, when something spreads to a wider audience, it is perceived to be more legitimate, and that’s when more people feel comfortable enough to get involved. Plus, a much larger number of stores and businesses accept Bitcoin now, which has
This one links back to the security factor, as the ability to avoid giving away your identity, reduces the risk of being cyberattacked. As Bitcoin is linked with a public ledger, it means malicious individuals are less likely to tamper with anything. But, the information being public warrants the anonymity in most people’s minds; this element has
undoubtedly fueled the rise in popularity.
Quick and Efficient with Transactions
The modern society is extremely hectic, which is why people deeply appreciate something that is fast, simple and seamless. So, as transactions that are completed using Bitcoin are quick and efficient, people throughout the world have been more enticed to get on board with the digital currency.
Fantastic Investment Option
Lastly, so many people are investing in Bitcoin these days, because the value is continuously rising. Even though there is a degree of risk to any investment, that still hasn’t prevented people from selecting the virtual currency as their preferred choice of investment.
The more people that invest, the more the platform spreads and becomes common knowledge.
Bitcoin is fast becoming integrated into the everyday lives of people living in developing countries. With unstable and hyper-inflated national currencies, bitcoins are proving to be a much more viable solution to solving the financial woes of their citizens. Here are 4 reasons why Bitcoin has a massive appeal for the masses in developing countries:
1. You Don’t Need Banks
In developed countries, it’s relatively easy to sign up for bank accounts and credit cards. But in the developing world, it’s a vastly different story. It’s much harder to get credit and setting up a bank account is no walk in the park. But Bitcoin changes all that.
With Bitcoin, you can save your own bitcoins yourself – all you need is a secure wallet to keep your digital money safe.
2. Fast, Cheap and Borderless Payments
With Bitcoin, you can send any amount of bitcoin to anyone in the world in a matter of minutes. When you send money through banks you not only pay those costly bank fees, you also need to wait for several hours or a few banking days. But with Bitcoin, as we’ve mentioned previously, you don’t need banks to send or remit payments to other people.
All you need is their address and voila! Your payment should arrive in the next 10 or so minutes.
3. Bitcoin Can’t Be Manipulated By Anyone
Governments and banks can dictate the production and movement of their national currencies which ultimately leads to inflation. Unlike fiat currency, however, Bitcoin is a decentralized virtual currency. This means there is no controlling entity that tells the Bitcoin network what to do.
Everything has hard-coded into the network and the underlying technology behind, the blockchain, is tamper-proof and can’t be manipulated by anyone, not even its developer, Satoshi Nakamoto.
4. Bitcoin Will Help Authorities Catch Criminals
Contrary to popular belief, Bitcoin is not anonymous. Rather, it is a pseudonymous currency because while your alphanumeric public keys provide a certain level of anonymity, computer experts can trace who owns which wallets and the amount of bitcoins each wallet contains.
Now the who make small transactions don’t have anything to worry about.
It’s the criminals who move large amounts of bitcoins that catch authorities’, and it’s who they focus their research on, not the millions of people who make minute transactions.