The Future of Finance on Display at Token2049
With crypto at the cutting edge of finance, we look at some of the most exciting developments.
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When it comes to crypto news, there's often a tendency to focus on large-scale developments. New token launches, acquisitions, big entrants into the space.
But big changes can't happen without ground-level adjustments. This year's Token2049 event showcased a range of exciting consumer-level innovations in the crypto space.
1. Crypto prepaid debit cards
One of the biggest challenges for crypto enthusiasts has been creating the means for easier day-to-day use.
There have been barriers in place, in part due to the multiple devices and security measures involved in storing crypto.
But it seems that the answer may be quite straightforward. Cryptov prepaid debit cards are starting to emerge in the market.
Allowing you to pay with crypto directly, these cards will convert your crypto into local currency while also allowing you to earn rewards in the process.
Crypto.com's Level Up program was a key standout for those eyeing off rewards.
It's a subscription-based service that offers multiple tiers to suit different levels of crypto use and expenditure.
There are three tiers – Plus, Pro and Private. At Pro Level, you can gain access to a range of benefits:
- 3% cashback in crypto
- No FX fees (making it great for travellers)
- 4 entries to airport lounges (most traditional rewards cards only offer 2)
- No trading fees on crypto
- 5% return on idle cash sitting in your account (coming soon)
Learn more about Crypto.com Level Up
2. AI will influence the crypto landscape
AI is attracting significant public attention at the moment.
So it's no surprise that Token2049 dedicated a considerable amount of focus to addressing how AI might affect the crypto space.
The full effects are still to be determined. We've already seen dabbling with AI tech to create NFTs in the past.
However, it seems clear that AI is here to stay in some form.
Trading platforms – both traditional and crypto-based – are also seeing an uptick in the use of AI, with functions such as tracking and predicting market movements.
From an investor perspective, this may present an opportunity for making more informed decisions about future buying and selling decisions.
The ongoing issue will be ensuring that high-quality data is fed into the AI algorithms for the best possible outcomes.
3. Tokenisation can open up new investment opportunities
Cryptocurrencies don't have to be an investment unto themselves. They can also be a carrier for other assets.
Tokenisation is emerging as a tool for processing valuable – but illiquid – assets.
Real estate, commercial IP, art (and more) have all emerged as potential use cases.
This can also allow companies to raise funds without needing to do a full public offering.
Instead, part of the company can be tokenised instead.
While its exact future remains uncertain, it could provide a range of utilities to crypto and non-crypto investors alike.
Perhaps most notably, it could potentially open up new spheres of investment to the average person that are otherwise either too illiquid or too expensive.
Learn more about Crypto.com Level Up
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