How Cryptocurrencies Are Impacting the Future of Business, a Detailed Analysis by Adel Al Shirawi

DUBAI, UAE / ACCESSWIRE / July 26, 2021 / Adel Al Shirawi is a Harvard-educated Financial Consultant, Cryptocurrency advocate, and the Founder of the Go Finance app. Shirawi has a deep understanding of the crypto landscape and considers it as the future of finance. According to him, the pandemic’s chaos proved that our traditional financial systems are not up for the job of managing crises of this magnitude. The emergence of the COVID-19 pandemic has shaken international economies and businesses, as governments worldwide struggled with lockdown measures to control the spread of the virus.

He believes that businesses and the trading sector suffered heavily at the hands of the pandemic around various parts of the world. While developed and first-world countries may have the pandemic under their control; however, on the other hand, developing countries don’t. The chaos driven by the pandemic caused catastrophic tremors in the stock market. The Asian, North American, and European markets saw significant shifts as COVID-19 started choking international economies and traditional financial systems to stand up and provide damage control.

As a financial expert, Shirawi believes that jobs worldwide are falling victim to the contagious virus, unemployment rates are skyrocketing, the remittance market is falling with immigrant workers being sent back home. Global economies are failing due to the devastation caused by the pandemic.

On the other hand, the rise of the COVID-19 pandemic has allowed cryptocurrencies and crypto platforms to emerge and dominate traditional financial markets. Interestingly, the incompetence of governments, under-performing stock markets, and devaluing fiat currencies were pitted against the optimized system offered by cryptocurrencies and digital assets resulting in attracting millions of new users worldwide.

If we talk about just the last one, the crypto economy has achieved significant milestones, driving the record surge of digital assets. While since 2017, the crypto and blockchain industries have attracted more than $12.4 billion in venture capital investment into businesses headquartered in the United States.

Cryptocurrencies have come a long way, and the user base has grown significantly. The market is going strong despite bearish cycles, and the ecosystem has improved considering how far they’ve come. Heading into the third quarter of the year, Cryptocurrencies are at the forefront of finance, with digital currencies such as Bitcoin and Ethereum leading the narrative. 2021 helped catalyzed a plethora of use cases for blockchain technology. Today, there are barely any headlines without any mention of cryptocurrencies.

Investors, traders, and users are all lured by the crypto ecosystem’s optimization and efficiency over traditional systems. Mr. Adel enforced this claim by quoting an estimate that around 15% of all Americans hold some digital currency, such as Bitcoin or Ethereum, and a significant percentage of these investors have entered this sector in the past two years alone.

Accessibility is the primary reason for this upward trend. And also due to mega-corporations moving towards digital assets and making them available to their massive user base.

Despite the market’s notorious volatility, businesses are starting to embrace these assets as a viable payment option, and there’s a strong possibility that cryptocurrencies could be impacting you and the future of businesses around you.

Mainstream Institutional Adoption Is Already Here

Shirawi states that cryptocurrency’s institutional adoption is already here. With leading hedge funds companies and asset management firms moving towards crypto. Moreover, with crypto exchange-traded funds (ETF) gaining popularity within the institutional investor community, the adoption of crypto assets is growing exponentially. Many within the crypto space deem crypto assets more valuable than traditional markets, real estate, or even gold, which has fueled the revolution of other institutional players to join in despite raising some eyebrows.

Fortune 500 companies cozying up to crypto

Leading Fortune 500 and Fortune 100 companies in varying sectors are also cozying up to crypto, with automakers and payment giants all opening up to cryptocurrencies in one form or the other. These moves from leading companies have laid down the foundation for institutional acceptance of cryptocurrencies.

Remittance Market, Digital Payments and the E-commerce sector

Perhaps the most important sector which is being disrupted by cryptocurrencies is the remittance market. With billions of expatriate workers moving trillions of dollars in remittances, the market is ripe for innovation, which is being catered by up-and-coming DeFi based crypto projects raking in billions of dollars in investments and funding rounds.

The digital payments and the E-commerce sector are following suit. Shirawi believes that with payment giants jumping on the bandwagon, it’s hard to deny cryptocurrencies’ rise and mass adoption. Soon, cryptocurrencies could open the doors for broader mass adoption and bring almost 2 billion unbanked population towards cryptocurrencies.

Optimizing your business and payroll with Cryptocurrencies

As a founder himself, Shirawi knows that managing payrolls for a team of global workers is a considerable burden as businesses are starting to migrate towards a remote-work future.

He states that only a founder can imagine how much of a pain it is already to have to exchange your dollars into dozens of different foreign currencies to ensure that your workers are paid using the current procedures in place. Moreover, having to bear the overbearing fees of converting your currencies can become unbearable in the long term. However, Shirawi gives a solution to all of this. He states that with cryptocurrencies, you can facilitate instant transactions across borders with nominal fees. Moreover, he states that since cryptocurrencies are based on blockchains, a form of distributed ledger technology, all transactions will be public. All parties can view the transaction details and immediately track the status-cutting out intermediaries saving money for both businesses and their employees.

Redefining crowdfunding for Startups and New Ventures globally

Being a startup founder, Shirawi personally understands the complexity involved in raising funding for a startup. He states that traditional crowdfunding platforms have enabled hundreds of thousands of Startups and Ventures worldwide to raise funding globally. However, despite being open and accessible to all, the regulatory compliance and banking partner requirement to move funds limited startups in the developing world to access these platforms. He says that, in contrast, a platform powered by cryptocurrencies can be a powerful alternate to these closed platforms. Users worldwide can donate and support the projects they love instantly via crypto funds transfer, and the details of funding will be public thanks to blockchain technology.

A new model for employee benefits

Shirawi believes that cryptocurrencies offer a new paradigm for businesses to empower their human resources. He gave the example that businesses worldwide attract top talent by offering attractive salaries and company stock options. Although this practice is attractive for many, it is somewhat limiting as traditional company stock options are useless unless they are public traders. In contrast, Shirawi shared that a cryptocurrency-based stock option is instantaneously valuable as it can be easily traded, staked, or exchange based upon the holder’s liking. This also creates a fair and equitable environment for the company’s HR where they feel empowered since they join the company and enjoy the same benefits as its founders.

Looking ahead

Being a financial consultant and a crypto advocate, Shirawi believes that cryptocurrencies have reached the point of mainstream adoption, with governments, institutions, the financial sector, and asset management firms all taking it seriously. It has also created a new wealth of opportunities that are not bounded by geographic or political boundaries. He believes that cryptocurrencies and the technology behind them are powering the next generation of industries and will transform almost every aspect of our daily lives for the better. Shirawi is bullish on cryptocurrencies and advocates their usage and adoption in the financial sector.


Adel Al Shirawi
Marina 10, DUBAI – UAE

SOURCE: Adel Al Shirawi

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