There is little doubt in my mind that Bitcoin constitutes a solid high-quality worldwide payment system of the future that keeps innovating more and more. Centralization as it stands today leads to human beings being commercialized by big corporations with the side-effects of violating the individual integrity and sovereignty of people as individuals. Currently new banking laws in the EU have been introduced with which commercial entities can now look into your bank account, are we progressing towards an age in which human beings become nothing more than cash cattle for big entities or do we favor individual sovereignty and freedom by choosing a future of decentralization? So from a moral point of view decentralization of payments systems seems necessary, in addition to that bitcoin and other cryptocurrencies constitute payment systems 2.0 from a technological perspective, it’s more agile, fair, the participants decide its value etc. etc., the advantages are numerous. So in short, bitcoin has a bright future ahead of it I think.
However let’s fast forward a little bit into the future and presume that crypto currencies are no longer hindered by scaling problems or security problems, how does XEM currency stack up to Bitcoin as a method of payment and a store of value. One important aspect obviously is the ease with which the currency is being able to become integrated into the economies of the world, especially the internet-economy. Since bitcoin is built upon old technological foundations and NEM is built on new technological foundations I think NEM currently has an advantage here. Obviously there are way more resources and manpower being poured into the Bitcoin project and the quality of its fundamentals is high also. So in short, I think bitcoin will become a global succes anyhow, also especially because the US debt rising steadily, excessive amounts of dollars being printed to sustain the debts, easy acces for the Global South to participate in the world economy through crypto etc. etc. However NEM has very advanced capabilities from a technological perspective, hence the “smart assett platform” branding. This is tremendously important and I think from that perspective the Bitcoin ecosystem and the NEM ecosystem augment each other and they are not comptetitors. I see NEM as a userfriendly and easy-to-integrate high-tech popular platform with unique and advanced features that also fulfills the same role as bitcoin as a payment system and a store of value in Asia and hopefully also in the EU and US.
If currently the NEM project was still being overshadowed by the previous “leadership” of the NEM foundation aforementioned future would perhaps just be a utupia. You can have all the right ingredients but if you don’t have a cook who knows what to do with it nothing good will come out of it. That being said NEM community ought to be thankfull at least to previous NEM foundation for kickstarting things. That was the past however and currently NEM foundation has the best conceivable President ever, I can’t elaborate too much on that simply because I’d need multiple pages just to describe what I mean. But in short she is showing excellent leadership skills, making the right decisions, being transparents, putting the wellbeing of the entire eco-system above individual enrichment (which is necessary to succeed from a game-theory perspective) and all this in a very short amount of time with very few resources during very hard (crypto) times in general and hard NEM transition times especially.
Anyway I started this discussion because perhaps I wonder how other NEMbers feel about the future of NEM now? Till which extent do you digress with the aforementioned depicted future?
By the way, these are only my personal ideas, observations and opinions, this is not investment advice, crypto investments are risky, you should always do your own research