Unlike the 2008 Recession, Here Are 4 Ways Crypto can Circumvent its Woes

The 2008 recession is perhaps the most significant financial crisis ever. While the problem ended years ago, the topic has continued to be discussed by experts and analysts now and then. Analysts say that there are several factors credited for causing the 2008 recession. Among them include loose lending standards, securitization, and deregulation of the financial space. However, barely a year after the recession, a new financial system, the crypto space, was born with the launch of bitcoin. Bitcoin and crypto enthusiasts claim that the crypto space can bring solutions to financial problems. In fact, in the past, the crypto space has proven resilient even in cases of financial struggles. For instance, in 2020, when the Covid 19 pandemic started, the financial world faced some problems. However, a few months later, the Crypto space continued to surge. Hence, it’s well established that crypto can survive financial problems, including recessions. This guide discusses four ways crypto can circumvent its economic problems and avoid recessions. Crypto Can Foster Genuine Trust in Institutions One issue that slightly contributed to the 2008 recession crisis is society’s high trust in financial institutions like banks. At this time, the community had too much faith in financial institutions and how they handled their activities like record keeping and other practices. But, too much trust led banks to do shady work. In 2008 some bankers ...