Home Cryptocurrency Ercryptex (Ercryptex.com) is in talks with the UK government about the possibilities of integrating cryptocurrencies into everyday life

Ercryptex (Ercryptex.com) is in talks with the UK government about the possibilities of integrating cryptocurrencies into everyday life

by Apollo Archie
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The UK is a leader in cryptocurrency integration and one of the most favorable and convenient jurisdictions for conducting cryptocurrency business. The state provides support to startups related to digital currency. Ercryptex.com wants to make a valuable contribution into the British people’s lives and might influence on other countries too.

Blockchain, as a phenomenon that has spread rapidly in the world, has a great integration potential, which can be valuable in the Britain space. These technologies can revolutionize many areas of human life. For instance, they can be used in shops, supermarkets and cafes, like an actual money. This is always the case when something new appears: at the beginning of the journey, specialists, and then the general public, begin to see new horizons.

The reasons for the pattern of cryptocurrencies into modern life are as follows:

  1. Cryptocurrencies are digital assets. The population should be familiar with digital money and ready to accept it in everyday life (Ercryptex is ready to help in this direction).
  2. Countries should have appropriate public authorities that seek to adopt new developments and technologies. Countries with unfavorable regulation are more concerned with existing issues and tend to ban cryptocurrencies as something new and possibly difficult to regulate. The UK, otherwise, supports rising trend in cryptocurrencies and tries to make its residents’ lives easier.
  3. Perhaps the customer thinks that the card payment is made directly, but in fact it is far from the case. When paying with a credit card, the marketplace charges 3-5% (and up to 15% in some industries) of the final price of the purchased item. Moreover, the problems do not end at the time of purchase of the product: it can take weeks to transfer money to the account, which negatively affects the dynamics of business cash flows. In addition, the merchant can not know for sure that he will receive funds for the goods sold and will not be a victim of a refund. That is why cryptocurrencies could be more relevant and easy in usage.

After all, we are talking about significant financial and tangible assets, while DLT technology, better known as blockchain, just allows individuals and legal entities to securely and directly exchange data, whether it is money, accounting and financial documents or personal information. Instead of paying intermediaries who act as auditors, guarantors, stewards and guarantors between the parties, such a digital system, allows users to collectively negotiate the reliability of the data themselves. It also guarantees the possibility of instant transactions and a qualitative reduction in overhead costs.

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