On April 14th at 1 pm, a GFA event was held on Zoom to discuss Crypto’s past, present, and future with Linda. The event provided valuable insights into the evolution of cryptocurrency and its current state, as well as predictions for its future growth and potential impact on various industries. The discussion shed light on the importance of understanding the crypto market and its potential for shaping the future of finance and technology.
Linda, a respected consultant with over a decade of experience working across Africa, presented the potential impact of cryptocurrency on the continent. Linda is focused on using emerging technologies to serve Africa’s mass markets and bridge the gap between the top 5% of income earners and underserved consumers. In this recap, we’ll share the key takeaways from her insightful presentation.
During the event, the importance of interaction was emphasized. Also presented was a five-part conversation to provide a comprehensive overview of the subject. The history and inception of cryptocurrency, dating back to 2008 with the release of the Bitcoin white paper by an anonymous person known as Satoshi Nakamoto, was covered. The primary goal of cryptocurrency to tackle problems around decentralization, Privacy, and financial autonomy, giving power back to the people was also placed in view.
Also discussed were the pros and cons of cryptocurrency, its ability to offer decentralization and remove intermediaries, and its market volatility and lack of regulation.
Highlighted further was the exponential growth of the cryptocurrency market, with thousands of projects and tokens and an ever-increasing total market capitalization. Further, the emergence of decentralized finance and non-fungible tokens, transforming various industries such as gaming and finance, was also discussed.
Linda provided a comprehensive overview of the topic. She shed light on the potential future developments in the world of cryptocurrency.
Brought to light was the evolution of the investment landscape for cryptocurrencies from 2008 to 2023. she mentioned that the investment landscape was initially limited to tech-savvy individuals due to a need for more awareness, infrastructure, and regulation. However, this began to change as cryptocurrencies gained attention and popularity.
Further noted are institutional investors, such as pension funds and family offices, increasingly allocate portions of their portfolios to digital assets.
Also mentioned is the emergence of professional trading platforms, such as crypto index funds, making it easier for retail and institutional investors to participate in the market. Looking ahead to the next five years, the person believes that the cryptocurrency investment landscape will continue to evolve by introducing additional investment products, such as exchange-traded funds and other asset-backed securities, as more countries establish regulatory frameworks.
During the event, someone asked Linda about the volatility of cryptocurrencies. They expressed their appreciation for Linda’s positive attitude towards Crypto. They noted that many people find Crypto scary or view them as pyramid schemes. The questioner wanted to understand how volatile cryptocurrencies are and hoped the discussion could help dispel some misconceptions surrounding cryptocurrencies.
Linda’s response to the question about the volatility of cryptocurrencies was that they could be very volatile. She suggested that for investors, it’s best to stick with blue chip investments in Cryptocurrencies such as Bitcoin, Ethereum, and Cardano, which are considered more stable. She also recommended that investors read a cryptocurrency project’s white paper to understand its use case before investing. Linda cautioned against investing in coins that are not scalable or lack meaningful utilities.
In response to the follow-up question about how much an individual can make in the Crypto field over six months, it was advised that it takes time to predict exact returns, as cryptocurrencies can be unpredictable.
Also recommended is that anyone looking to invest in Crypto should do their research, start small, and only invest what they can afford to lose. She also suggested using reputable Crypto exchanges and seeking the advice of a financial advisor if needed.
About GetFundedAfrica
GetFundedAfrica is a cloud-based technology platform that specializes in developing software that helps businesses raise funds, grow, and effectively tell their stories. Whether you want to raise funds ranging from $100k to $50m or you simply want to grow your business, sign up for free at www.getfundedafrica.com
