PwC: Among Digital Assets, Only Digital Currencies ‘Can Really Be Used at Present’
Switzerland executive of the multinational firm PwC has stated that digital currencies are the most reliable and reasonable for utilization among other digital assets
Switzerland executive of the multinational firm PwC has stated that digital currencies are the most reliable and reasonable for utilization among other digital assets. It is obvious that many do not discern the types of digital assets, but Roland Stadler, Senior Manager and Data & Analytics Specialist at PwC Switzerland, thinks that it needs to be cleared that they are different from each other.
According to Stadler, if we look closer into the digital assets, we could discern three types of them: the currencies like Bitcoin (BTC), utility tokens, and security tokens. The PwC’s exec says that only cryptocurrencies are both a payment instrument and a network at the same time. It brings a true decentralization in their exchange. The purpose of utility tokens is only to “fuel” the software used on the service. Security tokens are investors’ shares which give them rights to get future profits. The third type is the most tricky since securities need to be regulated by the government in most of cases.
So, despite the controversy regarding the cryptos, they are the most useful on the market at the current stage of blockchain development. For example, BTC is considered a long-term investment due to the growing acceptance in various financial operations. The major role in this belongs to high system stability and very low transaction fees. All this contributes to the acceptance of crypto in serious financial operations on global scale.
Along with that, utility and security tokens possess a high risk of failure, whether they belong to high-end projects or not. Conversely, cryptos like BTC are very important because they change how the money works technologically, affects sociology and influences global economy. The innovations brought by cryptocurrencies will have a huge impact on business in the future, Stadler says. Since some of currencies are well-established, the exec advises to keep away from any new ICOs, even the ones that seem very honest.
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