Humans often struggle with change ― though change is happening faster and faster these days.

It takes us longer to adapt to substantial change and most of the time we don’t even know what the changes are or how it’s going to affect us. I think this is massively different with cryptocurrency and crypto loans.  The key change that cryptocurrencies deliver is in fact a simple and appealing change ― namely, take out the middle man.


The middleman cryptocurrency takes out is governments – they don’t issue the currency. The middleman crypto loans take out is the banks. Cryptocurrencies allow us to take control of our own payment and borrowing systems with the price being set by supply and demand.


The Internet was designed in 1974: it opened in the 1980s. Even so, it was not until 1989 when the WORLD WIDE WEB, invented by Tim Berners-Lee, began to change the way governments, business and people do ― pretty much everything. And now that change is coming through cryptocurrency and Bitcoin loans.


The first paper money introduced by Marco Polo travelled from China to Europe in 1290AD but it didn’t really catch on until 1616AD, some 371 years later.


Cryptocurrencies have had a slow take up ― but not that slow! The first Bitcoins were dispatched over 10 years ago ― 10,000 bitcoin bought you a pizza. Today, 1 bitcoin buys you a good second hand car. Or you could get a crypto car loan in US dollars using your Bitcoin as security for the loan.


When mobile phones launched would you have thought they’d largely replace your computer, your street directory, your watch . . . yet, these days, it’s worse to lose your mobile phone than your wallet.


From humble beginnings, the crypto space has moved faster than most life-changing products and has continued to speedup. For example:

  • nearly 32 million Blockchain wallet users at the end of December 2018;
  • the Bitcoin market capitalization increased from approximately 40 billion U.S. dollars in the first quarter of 2012 to approximately 237.62 billion U.S. dollars in the fourth quarter of 2017. It has since decreased, amounting to 66.18 billion U.S. dollars in the fourth quarter of 2018;
  • the total cryptocurrency market capitalization at the moment is approx. $250 billion;
  • you can use crypto coins as security for loans in real money ― even US dollars.


If you can’t picture what that means for the next 2 to 5 years let me paint you a picture:

  • every ATM and payment gateway we use in shops, online or banks will be Crypto supportive;
  • governments will start to support crypto to make sure they do not lose control of us mere mortals ― they did it with radio, the internet and outer space;
  • governments will issue their own government-supported national-currency-backed cryptocurrency; and
  • you will be able to buy cars and houses and to pay school fees with crypto.

In other words, cash will become mostly irrelevant and be surpassed by technology-based currency.


You don’t need to own crypto to benefit but it might help to understand it.


John O’Shea