Cryptocurrency Volatility: Enemy Or Friend? How Can Digital Assets Be Price-Secure
16 April 2019 10:15 AM GMT
While volatility helped birth a better blockchain and cryptocurrency space down the lone, it also has many negative connotations that major corporations and enterprises, as well as smaller start ups, are trying to work around
- Others, however, see it as the reason that cryptocurrencies have failed to fulfil vital roles and disrupt certain sectors - such as being a functional and viable digital currency.
- However, there are many different ways that companies and cryptocurrencies are looking to remain stable to provide a functional and viable service, as well as to aid in their adoption as a token that can be of worthwhile and valuable.
- One of the most prominent ways that people believe they have found to avoid volatility in the cryptocurrency market is to peg their digital assets to a commodity or currency.
- Essentially, a token like JP Morgan's would always be worth $1, and thus, if the adoption of this coin were to spread to the public, and reach mass proportions, digital payments would be far more accessible and efficient, without the fear of wild swings of traditional cryptocurrency.
- Even a major palladium and nickel mining company is looking to launch a stable coin pegged to the price of these precious metals.
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