We’ve seen other industries and people’s lives transformed through digitalisation . The evolution of payments will allow non-financial companies to embed truly digital services into their apps and websites, in turn making the experience and journey that bit easier, faster, cheaper or more tailor-made for the likes of you and me.
Furthermore, financial transactions with bitcoins are not controlled, supervised, or regulated by any Ecuadoran entity, and therefore they represent a financial risk for those who invest in them. Bitcoin uses peer-to-peer technology to operate with no central Immediate Edge authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.
Some of the most talked-about cryptocurrency risks include their volatility and lack of regulation. Volatility got especially out of hand in 2017, when the price of most major cryptocurrencies, including Bitcoin, skyrocketed above 1,000 percent and then came crashing down. However, as the cryptocurrency hype has calmed down, the price fluctuations have become more predictable and followed similar patterns of stocks and other financial assets.