Pi’s Potential Impact in the Cryptoverse by CryptoDrive

by Be Informed

Pi Network’s mission statement is to “Build a cryptocurrency and smart contracts platform secured and operated by everyday people.”  The future scenario is that Pi will be the most widely used cryptocurrency that will fuel the “the world’s most inclusive peer-to-peer marketplace.”

Almost three years have passed, Pi cryptocurrency is still a “work-in-progress.” It is not yet in the Pi app user’s wallet until this time of writing, nor it can be withdrawn and used to buy goods and services available in the marketplace.

And this is not the unique thing about Pi. As there are also some cryptocurrencies that have taken so long to develop, and many years to take off. As some cryptocurrency enthusiasts have always been saying, “patience is the key” in crypto play. In most cases this is true also in financial investments and various entrepreneurial endeavors.

Pi is a cryptocurrency primarily intended to be used as a medium of exchange. That it can be used to buy products, or pay services and transaction fees within the Pi ecosystem. In itself, Pi is not designed as an investment asset.  But this does not prevent anybody to consider it as one, considering the real life use cases and its enormous potential value.

It is purposely made not to be sold or bought in a cryptocurrency trading platform. This means that it will be up for cryptocurrency exchanges to have Pi in their platforms as they desire it to be. Not the other way around.

Hence, it is unlike most cryptocurrencies out there that are having initial coin offering (ICO) way before their exchange listing. Some doing crowd funding to generate investments even on its pre-development and during the development phase.

Pi blockchain and ecosystem is gradually created and developed using the Core Team’s resources along with the support of the whole Pi Network community. Despite this, Pi is being generated and distributed freely through mining in individual user’s mobile phone. Making easy for ordinary people to acquire it. Unlike other cryptocurrencies that has to be mined in specialized mining equipment, or by using computers and laptops. 

If not today, in due time this could be the cryptocurrency having the largest number of users.

So how will a cryptocurrency with thirty five million users impact the cryptoverse? Or the global online marketplace?

Pi will ultimately shape the cryptocurrency landscape in a way that is not being achieved by Bitcoin and other altcoins.  The way I see it, Pi will usher in a new era of cryptocurrency utility and mass adaption by a great number of the world’s population. This is assuming that a corresponding growth in its ecosystem will happen that will bring numerous uses of Pi.

So everything hinges much on the various utilities that will be offered by various apps and platforms within, or maybe even outside of the Pi ecosystem in the future, that will create more demand for Pi in different transactions.  For this reason, it is essential that development of platforms and apps that will use Pi will have to be encouraged and duly supported. Considering the challenges that developers and their respective entities are facing to make their project ventures viable.

It is a given that among the Pi user’s or Pioneer’s acquintances and families, as well as the rest of the population, there are those on a “wait and see” mode. The tremendous impact of the over 35 million users that will hold Pi in their respective wallet and actually uses it to buy goods and services available in the marketplace will have a multiplier effect in ways that we can not imagine until it happens.

As more people becomes aware and appreciate the use of Pi in trading and other business transactions, this will trigger demand to skyrocket further fueling increase in the coin’s valuation. Thereby making significant contribution to the incremental rise of cryptocurrency market capitalization which in its peak have reach $3.048 trillion in November 10 last year based on statista.com figures.

A time will come when cryptocurrency will be a basic necessity in every person’s socio-economic engagement. That for individuals to be able to enjoy some basic necessities and luxuries, they must have cryptocurrency, more particularly Pi, in their digital wallet. This will be an inevitable reality.

Then, this will eventually give way to the realization of Pi Network’s vision statement –  “Build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency.”

Credits to CryptoDrive

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