The debate about cryptocurrency replacing conventional cash is never ending. We at Ceres Global predict a significance increase in crypto payments but believe that, conventional cash will continue to exist and dominate trade for at least a decade. US Democrat Hillary Clinton made a mention of Bitcoin, in her opinion BTC could undermine the interest of the United States Dollar.
She obviously implied that Bitcoin, could reduce the importance of the US$. This relates to the use of Bitcoin to settle payments – in the long term, the issue could involve a whole range of cryptocurrencies and not just Bitcoin. It is also possible that investors could increasingly, invest their funds in BTC. This could lower the involvement of the US dollar in investments.
For those of you who have been tracking the evolution of cryptocurrencies, it would be apparent that crypto analysts gave little importance to crypto usage prior to 2018. Cryptocurrency was only about speculative trade, investors bought and sold cryptocurrencies – the objective being to gain a profit on investment.
In 2018 Ceres Global officially launched its project that included the CRSTK crypto. It happened to be one of the very few projects that, assigned a wide role to a cryptocurrency. While CRSTK would trade on crypto exchanges, it would also be promoted as a mode of payment. Stressing the point that, almost no other crypto project had defined such objectives at that time.
Ceres Global detailed the development and implementation of DiaEx, a diamond trading platform to improve efficiency and market scope in the $90 billion diamond industry. International diamond trade is generally conducted, with the US$ as the mode of payment.
The concept of crypto payments has gained significant support in the last couple of year. Business operators are more open to the idea of incorporating, cryptocurrency as a mode of payment on their trade portals. We are not far from the day when, Bitcoin and a few other cryptocurrencies, would be used to settle payments involving international trade.
The US dollar has for long dominated international trade. It is not uncommon for nations, to conduct trade in terms of US dollars. This even when the dollar does not happen to be, the currency of the trade partners. This situation could change rapidly if, cryptocurrency in general or Bitcoin in particular – gains popularity as a mode of payment. This would undermine the importance of the US dollar in international trade – something that worries American politicians like Hillary Clinton.
The bottom line is that the days when Bitcoin or cryptocurrencies in general, could be blockaded are long over. The best that America or any nation can do is to, formulate and implement effective crypto legislation. The focus should be on identifying and stopping illegal activities that, involve the use of cryptocurrency. The acceptance of cryptocurrencies as a mode of payment, is likely to grow in the coming years.
Attraction of SOCTF (aka Stock of Ceres Trust Fund) Electronic Stocks
SOCTF is considered by experts to be a jewel in the financial industry in 2021, because it is not only supported by the Ceres Global group with more than 50 years in the jewelry and gem business, but it is also supported by Blockchain believers.
It can be said that this move of the Ceres Trust Fund is a very bold step, and also a step that promises to bring extremely positive results to the financial market in early 2021.
To be exact, with this strategic move, the Ceres Investment Trust is giving investors an opportunity to bring diamond value.
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