In this article, the recent overwhelming rise in interest in decentralised money will be examined, along with the subsequent crash in prices, which has left many people who dove into the industry head first wondering… where do we go from here? As the dust settles, and much of the hype slows, the race for the prize now is being run by blockchain companies that are built on substance and practicality. TREOS, a decentralised ecosystem that will initially feature a peer-to-peer marketplace and a stable secure token is one such platform that has attracted a growing number of crypto enthusiasts looking to participate in such a solution.
What a wild rollercoaster ride it has been in the ten years since Satoshi Nakamoto first introduced Bitcoin to the world. At a time when a near collapse of the world financial markets clearly showed a flawed system built on deceit, corruption and “trusted third parties” that could no longer be trusted, suddenly cryptocurrency began to draw attention as a much promising alternative. For the user, a currency that is private (to a degree), censorship resistant, borderless, and provides speedy inexpensive transactions seemed like something that could have a great deal of promise. As the industry grew and the technology expanded new alt coins began to appear, many promising that they provided key features and properties that would make them valuable. Crypto exchanges grew to facilitate the trading of the hundreds, then thousands of coins that were being offered through ICO’s. All of a sudden, crypto became one of the buzzwords in the investment spectrum, and even though the price of BTC had crashed several times in its early days, by 2015 a buying frenzy began, like nothing the financial world had ever seen before.
By the end of 2017, when the price of Bitcoin had reached almost 20 thousand dollars US (up almost 2000% in that year alone) and the overall market cap for all decentralised currency was inching up towards 800 billion dollars, the bubble began to burst. What many investors had poured millions into, suddenly, began to lose its lustre. The comparisons that were often made to the Dutch tulip craze and its ultimate collapse in the 1700’s started to resound about Bitcoin and the rest of the coins. Famed economists like Nouriel Roubini and noted investors like Warren Buffet declared the technology to be “useless” and a “scam” at the time. Throughout 2018, the prices of almost all the top coins continued to dip, as people who had rushed in to grab a piece of the “new gold rush” clearly didn’t have the nerves or understanding to HODL. ( A misspelling of the word HOLD which is commonly used amongst the avid supporters still standing their ground.) The pressure that institutions and third parties have put on the cryptocurrency industry, to fall into line and under more of their control, combined with shady players taking advantage of the new market has only added to the retreat from something that as recently as 2 years ago was seen as a solution to growing failures that have become so prevalent in many of the world’s economies. As time moves on, these factors combined with other world financial movements have caught cryptocurrencies up in a lengthy bear market.
Despite the price drops, (for example Ethereum has fallen from $1400 to just over $100 in one year), those who understand the real potential that crypto and the blockchain technology behind it hold, continue to look for solutions. Companies and platforms are still being developed, and all focus is now turning towards discovering those coins and platforms which can truly deliver value to the marketplace. A far more sophisticated approach is being pursued, one in which has brought about the rise of stable coins which are usually either backed or anchored to the price of a fiat currency or another commodity. These coins or tokens give an investor the option to park their money into crypto with a certain degree of assurance that the price will not rise or drop 10% or even more overnight. While these stable coins do offer a safety net for crypto investors most of them hold little promise for a significant ROI and many rely on the stability of the fiat that they are pegged to. At a time where worldwide confidence in the overall global markets has never been lower, holding a stable priced fiat pegged cryptocurrency doesn’t seem like a very practical position to take, unless there is a sudden turnaround in the pressing bear market and that’s something that no one can say for sure will occur in the near future.
Another giant obstacle that has curbed the crypto industry’s growth has been its lack of practicality as an everyday way to buy and sell goods and services. While in places like Venezuela and Argentina where hyperinflation has forced people to use decentralized money as a means of survival most of the world really hasn’t seen any real use case for it mainly due to price volatility. Why would someone sell a car worth 25 thousand dollars in Bitcoin when a day or two later the coin value might drop 5–10% or more? Despite the lower transaction fees or speed and simplicity of international trade the average vendor just sees too much of a risk of losing profits, particularly when their margin is low to begin with. This is where someone becomes inclined to take a closer look at TREOS.
TREOS is a grassroots project built for and by the people of the world. Calling itself “The People’s Economy” TREOS has been in the works for some time with a mission of bringing the world closer together and offering anyone who chooses to jump into the crypto world a means to understand it and apply it in their day to day life. The marketplace is designed to be a bridge connecting the crypto space with the world of e-commerce allowing a person or company to buy or sell any products or services to anyone else as long as the sale is legal. As advocates of the people, TREOS takes an approach that wealth can be available to anyone willing to participate in its ecosystem, thereby eliminating many of the restrictions that currently exist in fiat based financial systems. In many of the wealthier nations, moving funds and engaging in commerce are simple and commonplace; but in less developed places a majority of the people have little to no financial opportunities and face an endless cycle of poverty. Using the tools that TREOS is providing, anyone with a mobile phone anywhere in the world can send and receive funds and become a part of a thriving new economy.
From the TREOS Whitepaper Light
The last year has seen cryptocurrency use wider spread throughout the populace, but it has its downside. It’s too volatile to use for purchases. It’s mysterious to learn. It has languished in regulatory inertia, enabling hackers and bad actors to gain critical advantage. It’s often manipulated by centralised powers and cartels, especially supposed stable or digital tokens that are anchored to institution-controlled prices. However, what is the alternative? Fiat? It doesn’t even hold its value in these rocky times, with distortion of price mechanisms and its unequal distribution of advantage. It’s not practical with micropayments. It’s used to suppress the masses and has no open ledger. Inflation benefits are absorbed by governments or institutions, throwing scraps of interest to the people.
TREOS solves all these problems and more.
In regards to the questions raised about the current bear market that lingers on in the cryptocurrency world, TREOS can be seen as a new application where coin prices are the main concern. TRO, its origin token through which all transactions on the marketplace will be using is anchored by consensus to the price of gold, the most stable form of money in human history. People who have been holding onto the alt coins waiting and hoping that the price will some day rise will now have additional options through participation within the TREOS ecosystem. Owning Bitcoin or other coins no longer means playing the speculation game. Many crypto experts, including Andreas Antonopoulos, have been saying for a long time that the best way to prosper and appreciate this new technology is to earn Bitcoin and to start trading with it. With TREOS this is now a reality and a safe one as prices that merchants charge are set according to the current gold price. And the opportunity also arises to store TRO when market conditions get shaky. And one last important factor is the UBI wallet.
From the TREOS Whitepaper Light
3.6.3. Universal Basic Income
With current technological unemployment brought on by automation, it becomes a necessity of the new economy to decouple the concepts of work and wages — or more specifically, the need to sell your time and energy to a centralised authority who allows you to live. With over two billion of the world’s people living on less than $2 a day, and limited opportunities for the unbanked and those on the other side of the great technological divide, TREOS accepts that a necessary part of establishing a new economy for the people, by the people, involves providing a Universal Basic Income by means of technology, removed from the welfare model and instead creating a share in the outcome for all contributors in a free market. Decentralised money is there to serve people, and not the other way around, in a new economy built on acceptance of one’s intrinsic human value. Within the liberty of a fresh economy, smart contract distributed UBI might help people adjust from spending a lifetime of energy proving their worth within a blind system of sentinels that act as intermediaries.
Instead of the inflation benefits from currencies being absorbed, manipulated or controlled by banks or governments, TREOS cuts out those intermediaries and trusts the community to govern their own savings plans, transactions and growth of wealth. Using modified inflation algorithms, TREOS shares inflation benefits with all qualified contributing members of the TREOS ecosystem every 72 hour period. This Universal Basic Income comes without prejudices, including special safeguards to benefit those who are often economically and socially excluded. Therefore the TREOS platform and ecosystem gives opportunity and assurance to those who are often forgotten or marginalised in the current economy. If the economy grows, so should our ecosystem.
Everyone who becomes a part of TREOS will be given a UBI wallet where a selective amount of the tokens in their account will qualify to earn additional interest, that for many will be a step away from poverty and perhaps even a rescue ladder to a promising, more prosperous life. Under any market conditions, whether in fiat or crypto, the UBI will continue to mint. The new economy is built for growth; through giving to, rather than by continuously taking from, the people it is meant to serve. As more and more merchants, buyers, bounty hunters, and investors participate in this alternative to our failing economy they will discover so many ways to earn. Using stability, alongside the principles of freedom and the innovative direction that the blockchain can deliver, the market volatility that has caused a lot of panic will become less threatening. Isn’t this the solution that the decentralised financial asset world needs?
Curious? Check out TREOS. Jump over to our website containing links to the Beta Marketplace which you can explore now, read the Whitepaper and more.
Or wanna talk to someone? Join our Discord now using this link and let’s chat.
Author: Jeff S.