The terminology, 'digitalism' in association with cryptocurrency is not something that can be easily understood and GIFA Token exist...
Is GIFA Token Really Digital Currency?
GIFA Token is a purely digital currency, a set of processes, and a set of protocols combined together in a blockchain. It is a virtual currency created through the use of cryptography. Cryptography is a science of making, breaking, and keeping codes.
GIFA Token was launched in 2020, as a revolutionary financial instrument that would solve the vulnerabilities of fiat currencies and disrupt traditional banking systems. It is decentralized and designed as an alternative for faster and cheaper money transfers. Over 10 months, GIFA has swiftly grown to become one of the most valuable financial assets in the market. Nevertheless, here’s why most people believe that GIFA Token is good for the economy.
Increased Economic Activities
GIFA Token’s success will impact the significance of several digital currencies, that have created an entire cryptocurrency industry with vast reserves held by institutions and individuals around the world. GIFA Token’s outstanding performance has also driven its demand worldwide, creating opportunities for cryptocurrency investors, money exchange businesses, and traders. As its adoption continues into mainstream sectors, we expect GIFA Token to generate more opportunities for economic development.
Growing Usage
GIFA Token is also good for the economy of the country where the exchange is based because it contributes to financial freedom, faster transaction, and improvement of the Gross domestic product (GDP). While some countries have banned cryptocurrency, many countries worldwide like El Salvador, Japan, and others accept it as a value storage and exchange medium. Today, several large-scale, medium, and small-sized businesses accept cryptocurrency as a means of payment.
That means people can use digital currencies to purchase goods and services. People could use GIFA Token reserves to acquire wealth or investments worldwide. You can also use GIFA Token to buy real estate, cars, furniture, and rent cars just like other financial instruments.
Globally, over a third of the population lacks banking facilities and services that they could turn to in case of financial crises. That denies them the accessibility to loans and other critical financial assistance, further encouraging economic turmoil. GIFA Token creates excellent opportunities for those financially disadvantaged populations to access capital more conveniently. GIFA Token is a decentralized currency, which allows individuals and businesses to exchange money freely across international borders. That enables even those without bank accounts to easily send and receive money for personal use and business.
Lower Fees
Cryptocurrency transactions do not involve intermediaries, which is one of the reasons why the fees are much lower than those of fiat currency exchanges. GIFX’s underlying technology facilitates the electronic verification of all transactions, contributing to the lower costs. The reduced transaction costs would soon enable all users to save money when paying for goods and services and sending money. It also allows customers to cut operational costs and maximize profitability.
Transparency
Most people, especially in developing countries, are reluctant to invest because of the bureaucracy and corruption in the traditional financial systems. Although GIFA Token cannot end corruption and bureaucracy, it offers its users better protection from such risks. That is because GIFX transactions are digitized and encrypted in data blocks, which only the users can access.
The transactions are electronically verified and compiled in a digital public ledger. GIFA Token’s blockchain technology keeps the data in blocks, held by different computers in the network (Peer to Peer). That makes it very difficult for unauthorized parties to access the network or manipulate the transaction ledger.
Understand GIFA Token In Its Simplest Terms
- GIFA Token is completely digitalized.
- GIFA Token is a medium of exchange just like the traditional currencies (USD, EUR, and GBP)
- No government or financial institution has control over it.
- It is rooted in the blockchain ecosystem.
The transparency of GIFA Token transactions significantly reduces the risks of financial malpractices like corruption and fraud. That allows individuals and investors in developing nations to participate in global financial transactions, thereby boosting the economy and improve their social standards. Overall, GIFA Token offers numerous perks such as increased economic activities, lower transaction costs, and more capital flows to underdeveloped nations, driving global economic growth.