5 Monumental Reasons why the Digital Economy/Universe will grow and why you need to embrace it
I’ve got a friend, Eric, who invests a lot in businesses and real estate. Eric is extremely good with numbers and thinking outside of the box. He is successful on most of his ventures: he owns dozens of properties, multiple businesses, and lives a comfortable life in a nice house with a fancy car. Recently, Eric sent me a TikTok video where a young man is discussing how he is purchasing a house for 1/2 price by using crypto.
Like any good friend, I clicked on the video. Effectively, the Tik Tokker is taking half the price of the home and staking the equivalent UST for 19.5% APY on Anchor protocol. I explained to Eric that the math is correct, that 19.5% APY is possible on stablecoins, and that in crypto the platform has been around for a while (almost an entire year).
I offered to show Eric how to do this and explained that risk is involved (as with any other crypto investment) with Anchor protocol and that it would take a few hours for me to teach him how to use DeFi. Or, if he wants to earn 8.5% on stablecoins, he can take 20 minutes and set up an account on Celsius. Eric seemed more comfortable with this idea and said that he’d try out Celsius.
Did I mention Eric has a lot of money? He is now dabbling into the world of crypto and is entering non-traditional finance and the digital economy. Do you think if Eric starts earning 8.5% interest when he is used to earning less than 1% interest in the bank that Eric may move more of his traditional money into the digital realm? I do.
And I speak from experience. For the past 18 months, I have been transitioning my traditional money/savings/earnings into digital. Every day the case to move to digital gets stronger. Here are 5 reasons why you need to take a closer look at the digital economy and digital universe.
Reason #1- Finances
Traditional finance isn’t efficient. It’s slow, labor-intensive, rife with counterparty risk, and filled with cronies getting fat on fees that hurt the most oppressed people. The digital economy is about creating a global economy built on science, rules, and planning. It embodies speed, transparency, and provides an opportunity for anyone willing to embrace it.