Not yet in the rewards phase, Cardano has climbed from an ICO of $0.002 to $1.07 in just 7 months. The rising popularity of cryptocurrencies has driven the price of both Bitcoin and its alt-coin followers leaving many to wonder when this bubble will burst.
Declining trust in fiat currency, especially the US Dollar pushes people increasingly in the direction of decentralized world currencies. Unfortunately cryptocurrencies are not without their problems. One of the biggest problems is transaction costs, the other is practical scalability.
With the fiat system in China and Japan moving toward increased use of electronic transactions through apps like "AliPay" and "We Chat", cryptocurrency and especially SOCIAL currency have a unique leverage opportunity. With this in mind, there is a need for a currency that provides fast, cheap transactions, and does not rely on national boundaries.
The Steem Dollar has a ways to go to be used as a practical currency, but with the talented developers in the Steemit community I feel like it can get there. SBD and Steem transact instantly and free, the only practical thing preventing it from being a world currency is global acceptance. Because Steemit is a product that creates value, Steem and SBD are backed by a "real" asset. Most fiat can't even make that claim.
The developers at Cardano have studied the blockchains and created solutions to the problems of scalability, security, and high transaction costs. Once it is in it's proof of stake rewards phase, its value as a currency is poised to quickly exceed Ethereum, and possibly even achieve numbers similar to those of Bitcoin in less than five years.
As always, I Steem for my kids ...
