An economic revolution is a drastic change in the conditions under which economic activity is developed. So far, two major economic revolutions have been recognized: the Neolithic and the Industrial. But could we be facing a new economic revolution without being aware of it?
The great economic revolutions were led by two visible innovations, permanent agricultural occupations and factories, that is why we tend to associate the term revolution with the tangible. However, we live in an increasingly digital world where the intangible is becoming more valuable. ITherefore, the world could be, without realizing it, facing a new Revolution. An invisibleRevolution in the streets, but one that will most likely appear in Contemporary History books in the future: the Digital Asset Revolution.
It is difficult to convince society of the existence of a revolution that is not seen in the streets, in transportation or in homes. We know the famous quote from St. Thomas: “If I don’t see it, I don’t believe it”. However, there are clear symptoms that digital assets are going to change the payment methods, the customer loyalty, the way of formalizing a contract or even some gurus predict a paradigm shift in the global economy to the point of causing the extinction of physical money.
All to digital assets
The main symptom of this radical change is the bet being made globally on digital assets. A few weeks ago we wrote about China’s commitment to the digital yuan, a great boost for digital money. However,it is only the tip of the iceberg. It is clear to both the public and private sectors that the future lies in the adoption of digital assets as a transaction method.
Remember what the Bretton Woods agreements meant, or in 1971, when the major economic powers began to abandon the gold standard, and the world economy came to be governed by a system of fluctuating exchange rates. The silent revolution of digital assets may have more effect in the medium term.
In 2019, Facebook bet on digital assets with the launch of its own cryptocurrency: Libra. One year later, it has been announced that cryptocurrencies will be introduced among the payment methods of one of the main companies for online payments with more than 3000 users: Paypal.This news represents an exponential increase in the visibility of digital assets.
Much more than cryptocurrencies
It is undeniable that digital assets are growing exponentially. However, they still have a major challenge to overcome: convincing society of their utility. In order to do so, the first thing we must ask ourselves is: What is a digital asset?
In recent times, most of the news related to digital assets has been about cryptocurrencies, digital media of exchange that use cryptography to gain security. However, the world of digital assets is much larger. It includes assets such as digital tokens, which can be used as a payment method or to provide access to a specific service, or smart contracts, contracts that are not susceptible to interpretation and ambiguity because they are written in a computer code form.
2gether shows the way in Spain
At Fellow Funders we do not want to stay back in this revolution of transactions. That is why we have recently supported 2gether, a Spanish company that is demonstrating in our country that digital assets are not a futuristic idea but a reality of the present. This startup is setting new highs in customer acquisition with more than 1,500 new customers a day from all corners of the world.
The success of 2gether has also been evident in the funding round they have done with Fellow Funders with an initial target of 1.2 million euros. The round has been a success and has already exceeded 100% of the target. Despite this success, we are not satisfied, and we want to reach 125% of funding that marks the legal maximum. For this we count with all of you and we encourage you to invest in this ambitious project. Will you join the Invisible Revolution?