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ADL Estate Planning Ltd, a London City-based firm offering tailored wealth management advice, have released two new reports on cryptocurrencies. The reports discuss the potential impact of cryptocurrencies, data centralisation, and blockchain technology, and offer insights into cryptoassets and wealth management.
Further information can be found at http://www.adlestateplanning.co.uk
ADL believe in utilising tailored estate planning and education to de-risk financial threats, and in thinking long-term to assist their clients to make the best decisions today. The newly-released reports aim to bring awareness to the risks and consequences associated with cryptocurrencies, despite the few benefits.
Cryptocurrencies are electronic cash and are not issued by any government or central bank. They were originally developed to substitute traditional currency on the dark web, and are currently not legal tender. However, cryptocurrency trading has encouraged investment by private individuals, which has driven up prices and also created volatility in the value of cryptocurrencies.
The two newly-released reports offer insight into the potential consequences of legitimising decentralised cryptocurrencies, so that they become legal tender. Such a move would impact significantly on inflation, labour, wages, and international trade, and has the potential to disempower governments and enable a rise of corporatocracy.
The potential opportunities, threats, and unintended consequences of nation states having a decentralised cryptocurrency, if multiple cryptocurrencies exist globally with free or preferential trade agreements, are also highlighted.
In light of the potential outcomes of such a move, the reports suggest that cryptocurrencies may ultimately fall out of usage, with the investments in cryptocurrencies (known as ‘cryptoassets’) suffering a collapse. Full details are available here https://adlestateplanning.co.uk/opportunities-and-threats-re-a-decentralised-cryptocurrency
“The value of popular cryptoassets is entirely driven by speculators.” says Mohammad Uz-Zaman, Director of ADL and author of the report. “Currently, cryptoassets have no utility… so can only remain a pseudo-asset whilst regulation around it remains unclear and a light touch. If cryptoassets do not become legal tender I expect it will continue to suffer from uncanny rises and falls.”
The potential applications of blockchain, the technology underpinning cryptocurrencies, are also discussed, highlighting its impact across all industries. Those wishing to learn more can visit https://adlestateplanning.co.uk/blockchain-and-bitcoin-a-hegemonic-shift-in-data-centralization-and-currency
Release ID: 89000035