- Virtual currency is a tool for revolutionizing the current banking systems.
- “Money is not going to be the same forever and ever,” Luno co-founder Swanepoel.
Money has over the centuries changed its form to incorporate the needs of the economy. Paper money that is issued and controlled by a central authority has in the past few centuries become attractive to countries around the world. While banknotes are still relevant in the current economy, the situation will not stay the same, especially in the near future.
For this reason, the co-founder of Luno, a crypto exchange wallet, Mr. Swanepoel who is also a crypto investor and a former chartered account shared his opinion on the relevance of digital assets in the future economy. He was speaking in an interview with Express.co.uk where he explained the importance of virtual currency as a tool for revolutionizing the current banking systems around the globe.
Mr. Swanepoel is, however, unclear on how this evolution will occur in terms of Bitcoin (BTC) or Ethereum (ETH). Moreover, he says that the revolution could also take the form of an entire new “human capital” which will eventually disrupt the traditional financial systems. Mr. Swanepoel says that he is not anti-bank, at the same time, he is not anti-government, although he reckons that the banking system that exists today is not befitting the structure of the digital age.
“Money is not going to be the same forever and ever,” he stated noting that the current speculation that result in the volatility in the market will certainly die down as cryptocurrencies take their intended form. Swanepoel continued:
“What we are building, in the long, run is going to be useful for people in their everyday lives – they will be able to use it for transactions.”