Digital Assets and the Future of Finance
In todays Digital market place, the rise of digital assets have exploded on the scene. This is a short suggestion. Build your own asset class by leveraging the growth of ecommerce. Don’t be confused by all the fancy names of the digital assets. Just understand that most of everything can be digitized and sold. An ecommerce store is a digitized retail outlet. And most things can be sold online. We have companies such as Amazon to thank for that benefit. Most people do not see Amazon as a conglomerate of small businesses. It just sells stuff through a concentrated payment gateway. Allow me to give you a simplified version of this process. Learn how you might be able to take advantage of the new digital economy without betting the farm. But, first let us summarize the facts.
On Wednesday, December 08, 2021, at 10:00 a.m. (ET) full Committee Chairwoman Waters and Ranking Member McHenry hosted a virtual hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”
According to the minutes of this meeting:
“Since 2008, financial technology and markets innovation have fostered a new digital asset class and introduced new forms of investing, trading, and payments. These new digital assets have been made possible by advances in cryptography and distributed ledger technology (DLT). Digital assets, such as cryptocurrencies, stablecoins (a subset of cryptocurrencies pegged to a stable reserve asset), and central bank digital currencies are all digital representations of value. The market value of the digital asset ecosystem expanded significantly from approximately $500 billion in 2020 to almost $3 trillion as of November 2021. Over the past few years, the cryptocurrency market composition has shifted from being overwhelmingly dominated by the cryptocurrency Bitcoin, to a host of new digital assets and technologies gaining market share, each with different structural and activity features, including Ether, stablecoins, non-fungible tokens (NFTs), decentralized finance platforms (DeFi), and others.”
How to Build your own digital asset
Here is an example
With Shift4Shop, there is no need to seek out web hosting, handle PCI compliance, or hire developers because no coding knowledge is needed to build and launch an eCommerce website. Plus, they are constantly updating software with new features to keep users competitive.
Your merchants also can enhance the functionality of the store with powerful eCommerce apps designed specifically for Shift4Shop. There are currently more than 200 apps available for download at the Shift4Shop app store. Merchants can leverage apps that help them with shipping, CRM and ERP integrations, taxes, fulfillment, and inventory management.
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