11 Mar 2021 — A future ecosystem where Bitcoin would serve as a global trade facilitator
Bitcoin is evolving as the ‘North Star’ in the digital asset space and is a compass for the evolution of a broader ecosystem of crypto commerce, according to the latest report by Citi GPS, Bitcoin – At the Tipping Point.
The original intent of Bitcoin’s has since changed with its development happening across multiple fronts. In this vision, the new hybrid model with on and off ramps between the fiat and crypto ecosystems will have CBDCs, traditional fiat currency and private stablecoin networks existing all together. Digital wallets hold cryptocurrency, one or several private network coins, and CBDCs all at the same time.
In this potential future, traders may choose to use Bitcoin which is free from government interference to make transfers directly with little friction, rather than engaging in a string of currency or stablecoin exchanges.
Follow-on transactions could be conducted without a currency exchange. Funds could move within the Bitcoin network and only be withdrawn and exchanged when account owners needed money to operate in a local economy.
Reportedly, if achieved, this would mark the mainstream acceptance of Bitcoin.
Full report: https://www.citivelocity.com/citigps/bitcoin/