LODE Payments COO Nicholas Prauten has recently spoken to Stansberry Research about the prospects of the crypto markets. He believes that crypto remains a viable way to hedge against inflation risks.
Prauten believes that, as the inflationary pressure on most markets remains high, even traditional safe havens like precious metals come under stress. To survive the volatility that is coming, investors should consider turning to cryptocurrency instead.
'People need an asset that they can trust, something of value that will serve as a foundation during a crisis so that their wealth does not depreciate day after day, year after year,' said the expert. 'At its core, LODE is 'an initiative to bring silver and gold back into the monetary system using blockchain technology.'
Looking into the future, Prauten believes that most assets will be eventually tokenized, allowing investors to manage their holdings much more efficiently. One will have much more flexible ways to store one’s wealth. For example, an investor will be able to hold tokenized gold, real estate, grain, etc. and convert them into the official currency as needed — to pay taxes, for example.
As we know, ever since the ICO boom many have been trying to tokenize just about any kind of assets, but not a single one of these projects has achieved mass adoption. Why should things change now? The key reason is inflation and the fast depreciation of assets across the globe. Under these conditions, those assets that cannot be printed at a centralized entity's whim become particularly attractive. The best example is Bitcoin, whose emission is strictly capped.
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