August 22, 2021
Pi is set to command change in traditional marketplaces
It is an inevitable reality that the future global financial system will stop the use of fiat currency in all forms of transactions. Just like when we thought that mobile technology wouldn’t become a reality in the future when everyone was subconsciously conditioned to embrace wired devices. Well, the future of mobile technology has been here with us for years now. It is then apt to say that the change in people’s attitude towards the use of fiat currency could happen sooner than we expected. And it could change in favor of cryptocurrency.
The timing for Pi Network is therefore impeccable. And here are the reasons why:
First, the road has already been paved for Pi Network to easily proceed with the realization of its goals. The early digital coins that came about before Pi have paved an easier way for future cryptocurrencies to infiltrate the crypto markets. Millions of people have already been educated about the concepts behind this type of currency. New players do not have to start from the ground up just to introduce their projects to the world. Being fully aware of this reality, all it took for Pi Network was to tap this reservoir of prospects. This is the main reason why its popularity has spread to millions of people across many countries.
Second, the limited functionality and impractical applications of many cryptocurrencies have been identified. This gives Pi Network considerable advantages. While many cryptocurrencies were designed and created with a specific purpose – may it be used as collateral for digital deals between two companies or may it be used to perform trades in a gaming environment – but these cryptocurrencies cannot be used outside of their intended platform. Their usability and scope of use end there. This means that these types of coins can only be beneficial to a small group of people. They are not for ordinary people like you and me.
Pi Network enters the scene with a clear and definite purpose: command a change in these types of scenarios and make Pi accessible and usable by just anyone across the globe. This is the reason why Pi was given to people for free using a device that millions of people use every day: mobile phones.
Third, it doesn’t take too much effort to create a user base for Pi Network. Because the concept of cryptocurrency is no longer new to many people, it does not require massive efforts to raise awareness among communities of people worldwide. It is relatively easier to introduce Pi Network today than it was in the past, and newcomers to cryptocurrency can use Bitcoin as their benchmark for learning to understand the fundamentals of digital coins and tokens. Those people who haven’t heard about Pi before can use Bitcoin as their basis for comparison concerning similarities and differences.
The traditional path that most crypto projects take is to develop everything first – from planning to programming to ecosystem building – and then introduce the project to the people afterward. That is why most of them chose to go into stealth mode with their development. But this is not the case for Pi.
The Pi developers understand this scenario fully well that they started their project by introducing Pi Network to the people first before launching a fully operational blockchain online. It is because they see the importance of the people’s role in the success of a cryptocurrency.
They decided to rally the communities first and introduce their project to them. The Pi developers went public with their progress because they wanted to get the people involved. As a result, over 23 million people are now actively participating in the free mining sessions of Pi Network. It is made possible by the mining app that people can open with their mobile phones. Today, millions of people are waiting for the Pi Network to finally launch the entire project.
Fourth, all it takes for Pi Network now is to simply consolidate everything into one: its marketplace. The launching of its global marketplaces that will utilize Pi cryptocurrency for day-to-day trades is the final act of it all. It is through this that Pi’s missions will become fully realized. It will soon become the norm in the world of cryptocurrency where ordinary people can buy and sell products without being dependent on fiat currencies and any other cryptocurrencies out there. The pi coin will acquire its value; it will become a value.
It is then only a matter of time when Pi marketplaces become the beacon of change in the financial systems across the world.
While it is true that some major companies have been accepting cryptocurrencies as a mode of payment (such as Microsoft, which accepts Bitcoin for use in its online Xbox Store since 2014), there has not been a company that creates a fully decentralized marketplace where its coin is used as the standard currency. As with Pi, it will be used to buy anything from food to apparel and from electronic gadgets to real estate. In addition, Pi will also be used to hire services, such as virtual assistance and graphic design.
With its Hackathon event that currently runs as of this writing until September 5th, 2021, the growth in numbers of third-party marketplaces is seen to become exponential. Multiple marketplace projects in both mobile apps and websites alike are being proposed and developed in many parts of the world: from France to Vietnam to China and the Philippines. When completed, these apps and websites will offer just about anything but only, it will accept Pi cryptocurrency instead of fiat currency like the US dollars.
These third-party marketplaces will soon play a vital role in creating a shift from traditional to decentralized peer-to-peer marketplaces. With the millions of people in its user base and with the continuous development of its ecosystem, Pi Network will likely become a driving force in the worlds of cryptocurrency and business.
There is no contest that the Pi network is pioneering in this field. It is the first of its kind to create a decentralized blockchain that supports decentralized marketplaces. No other company has done it so far. Pi will not be the last one to create such, but it sure will establish its name as the pioneering father in the field.