While backers of traditional fiat currencies may see crypto projects as a threat, they’re actually the answer to many issues in the world today. Human rights activists recently told Congress that bitcoin and other digital assets were essential to help countries with collapsing economies.
For local economies experiencing rampant inflation, collapsing currencies and banking systems that have been cut off from the real world, digital assets and decentralized finance options offer real hope to those effects. Businesses, investors, and regular people can see their economic prospects tumble when their own currency loses its value, or their ways of doing business are restricted internationally.
Many people view traditional currencies as “safe”. And while this could still be argued to be the case for some of the bigger, more established fiat currencies—it simply isn’t for smaller ones. Cryptocurrency, and digital assets, give normal people access to a more democratized currency that isn’t reliant on the actions of their own governments, or the failings of their own economic system.
While human rights activists cite Bitcoin in their main address, how could some other up-and-coming crypto projects help improve the globe’s access to financial freedom?
SppokySwap is an all-in-one platform for leveraging funds across digital ecosystems. In other words, it aims to give everyone access to financial tools and control of their own digital investments. Currently with a market cap of around $34,000,000 and a total volume of over $60bn in trades, SpookySwap is the number 1 protocol based on the Fantom network. we believe this project could be key in helping democratize global currency access.
Another unique new crypto idea that’s gaining traction recently is Gnox. While still in pre-sale, Gnox has experienced price rises of 52% in recent weeks.
Gnox aims to bring the benefits of decentralized finance (DeFi) to the entire planet, helping normal people take control of their money and enjoy the benefits of yield farming as a service, all-in-one place. And there’s one key difference between Gnox and SpookySwap that also helps set GNOX apart from many other DeFi lending platforms: it’s been designed to take care of the technical side of investment for people who want to enjoy the benefits they bring without any experience or knowledge of how they work.
Gnox creators spotted a problem: people want control of their money and want to be able to enjoy passive income streams, but far too many of them are hesitant to invest in DeFi because it’s not very welcoming to newcomers. How can regular investors get involved if they don’t know how staking, liquidity pooling and other DeFi strategies work? With Gnox, they can. But it isn’t a completely hands-off approach… It’s still democratic. That’s because Gnox holders will take part in regular votes about how and where their invested funds will be used. And that’s why Gnox could be the future for regular investors entering the DeFi space.
Crypto projects like GNOX and SpookySwap sit alongside more established coins like BTC in a new wave of financial democratization. This wave is set to give the whole world real control of their finances at a time when many need it more than ever.