Cryptocurrency as we all know it is quickly flourishing in the digital realm. If you have been interested in getting involved with crypto, you’ve probably heard the term “crypto is the future!”. Despite this statement’s cliche and redundant nature, there is some strong validity behind it.
Investing in blockchain technology is believed to be a much more viable way of making more money, due to its decentralized finances that permits easy and secure transactions that do not rely on intermediaries. Let’s face it, when was the last time you looked at investing money into banking assets?
COVID-19’s impact on banks
The exchange rate of assets such as independent saving accounts (ISA) has rapidly declined, particularly due to the COVID-19 pandemic which not only tragically took the lives of millions, but also caused a global recession. As a result, this led to the downfall of the financial markets, with bank assets’ such as ISAs and loans significantly declining along with generating a crash in the global stock market. This has led to a decrease in people’s interest in investing their money in bank assets, as they felt that there was little to no financial benefit in doing so.
How COVID-19 affected cryptocurrencies
On the other hand, whilst banks suffered from the pandemic, cryptocurrencies seemingly began to thrive more than ever. Many credible figures have spoken about how COVID-19 positively affected the demand in the blockchain realm. According to cointelegraph.com, the general manager of RippleNet, Asheesh Birla, gave the sentiment that COVID-19 highlighted a gap in the financial infrastructure of many, particularly people who are unbanked. The CEO of BitGo, Mike Belshe, shares a similar view, stating how he feels that the pandemic accelerated the interest that people have in cryptocurrencies.
How can Pac-Man Frog (PAC) add to the cryptopia?
Pac-Man Frog (PAC) is an upcoming decentralized finance token that aims to centre its blockchain around the community by providing acquisitions, engaging in beneficial business relationships and educating newcomers and well-versed investors on where to put their money into. On their litepaper, Pac-Man Frog (PAC) states that they provide “ѕtаking and bonding mоdulеѕ for gaming рrоjесtѕ tо hеlр thеm imрrоvе inсеntivеѕ for their investors and liquidity рооl рrоvidеrѕ.” The blockchain is being targeted primarily for NFT developers and DeFi to aid the construction of new solutions and innovations in the crypto marketplace.
The blockchain’s anticipation continues as it plans to adopt the decentralized autonomous organisation model (DAO). DAOs are responsible for reducing the need for a hierarchical system by allowing all users to have equality, when making fundamental decisions regarding cryptocurrency.
Without a hierarchical structure, there is not one user more responsible for the future of cryptocurrency – an aspect that contrasts when it comes to traditional banking. Pac-Man Frog (PAC) is currently in its pre-sale phase, so now is the best time to get invested in the currency as it has a large growth potential. Although the COVID-19 pandemic negatively impacted the financial market’s conventional assets, it ironically led to a positive emphasis on decentralized finances.
More information on Pac-Man Frog (PAC):