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Breaking! Revolution in the Cryptocurrency World: Pi Coin’s ISO 20022 Compliance vs Bitcoin’s Future After November 19, 2023

Cryptocurrency has become the hottest topic of conversation in the world of global finance. Digital coins have changed the way we think about currency, investments, and the use of blockchain technology. However, there is a big change coming on November 19, 2023 that could change the cryptocurrency landscape, especially for Bitcoin.

 

Bitcoin and ISO 20022

Bitcoin has been a pioneer in the world of cryptocurrency since it was created by a person or group under the pseudonym Satoshi Nakamoto in 2009. For more than a decade, Bitcoin has been a digital coin symbol. However, there will be significant changes that will affect its popularity after November 19, 2023. This is related to the ISO 20022 standard.

ISO 20022 is a global communications standard used for the exchange of financial data and information. This standard was developed by the International Organization for Standardization (ISO) and is used by financial institutions throughout the world. ISO 20022 compliance is an important step in integrating cryptocurrencies into the global financial system.

Unfortunately, Bitcoin does not meet the ISO 20022 standard. This means that Bitcoin will not be directly connected to traditional financial infrastructure that adheres to that standard. This non-compliance could leave Bitcoin further isolated from the global financial system, and there are concerns that this could reduce its popularity among investors and users.

 

Pi Coin: ISO 20022 Compliance and Rising Popularity

On the other hand, there are cryptocurrencies that show great potential to replace Bitcoin’s role in the cryptocurrency ecosystem. Pi Coin, developed by Pi Network, has adopted the ISO 20022 standard from its inception. This gives Pi Coin a significant advantage in connecting cryptocurrencies with the global financial system.

Pi Coin has experienced rapid growth in popularity, with millions of users worldwide. After the launch of Open Mainnet, it is predicted that Pi Network will become the world’s largest platform for cryptocurrencies. This brings great potential for Pi Coin to become a sustainable digital currency.

 

Sustainability of Pi Coin Value

 

One important aspect in evaluating cryptocurrencies is the sustainability of value. Bitcoin has experienced significant fluctuations in value over the years, which can be a challenge for investors looking for a stable asset.

With ISO 20022 compliance and the growth of its ecosystem, Pi Coin has the potential to offer greater value stability. In the ever-evolving world of cryptocurrency, sustainability of value is becoming an important factor in attracting investors and users.

The big question that arises is what might happen to Bitcoin after November 19, 2023. Will its non-compliance with the ISO 20022 standard destroy its popularity? This is a question that doesn’t yet have a definitive answer, but there are some predictions about how Bitcoin’s future will play out.

 

1. Potential Isolation from the Global Financial System

 

With non-compliance with ISO 20022, Bitcoin may become increasingly isolated from the global financial system. This could mean that Bitcoin transactions will not easily connect to traditional banking networks and financial institutions. This can be a big problem, especially if you want to use Bitcoin for large-scale transactions or for business purposes.

However, keep in mind that Bitcoin has gone through many challenges throughout its history. In some situations, non-compliance can give rise to innovation, such as a separate network and infrastructure that supports Bitcoin. This could be an opportunity for developers and the Bitcoin community to create solutions that address issues that may arise as a result of non-compliance with ISO 20022.

 

2. Role as a Store of Value Asset

 

Over time, Bitcoin has developed into an asset that is often used as a store of value. Some investors view Bitcoin as an alternative to digital gold, whose value can persist and even increase over time. Especially in situations of economic instability or uncertainty, Bitcoin is often considered an attractive safe haven.

Bitcoin’s continued value as a store of value will depend largely on the extent to which concerns about its non-compliance with ISO 20022 influence investor perceptions. In this case, many people may decide to hold Bitcoin as a hedge asset, despite the challenges Bitcoin may face in the payments and financial ecosystem.

 

3. Potential for developing alternative solutions

The worst-case scenario for Bitcoin is if its non-compliance with ISO 20022 completely hinders its growth in the cryptocurrency ecosystem. In this case, cryptocurrency investors and users may start looking for alternative solutions that are more in line with the ISO 20022 standard.

This could pave the way for other cryptocurrencies that adhere to these standards, such as Pi Coin, to take over the role previously played by Bitcoin. In the world of cryptocurrency, innovation and rapid change are the norm, and cryptocurrencies that are unable to adapt to such changes can quickly lose popularity.

 

ISO 20022 Compliance and Pi Coin Popularity

 

While Bitcoin may face uncertainty, Pi Coin has emerged as an interesting competitor in the cryptocurrency world. Pi Coin’s initial decision to follow the ISO 20022 standard has given the platform an edge in connecting cryptocurrencies with the global financial system.

One of the factors that has driven Pi Coin’s popularity is the rapid growth in its user base. Pi Network, which facilitates Pi Coin, has been able to amass millions of users worldwide. This success has marked an effort to create a cryptocurrency that can be used by everyone, in every corner of the world, without complicated technical obstacles.

 

Sustainability of Pi Coin Value

 

It is important to note that Pi Coin’s popularity and compliance with ISO 20022 alone do not guarantee continued value. The value of cryptocurrencies is greatly influenced by complex factors, including market demand, adoption by businesses, and the level of trust placed in them by the user community.

Pi Coin will be tested at a later stage, especially after the launch of Open Mainnet. At this point, Pi Network will be the world’s largest platform for cryptocurrency, and this brings great potential for Pi Coin to become a sustainable digital currency.

In the ever-evolving world of cryptocurrency, change is inevitable. Bitcoin, as a leading digital currency, will face major challenges after November 19, 2023 due to its non-compliance with the ISO 20022 standard. On the other hand, Pi Coin, with its commitment to such compliance, will continue to solidify its position in the cryptocurrency ecosystem.

The future of Bitcoin is still full of uncertainty, and we will have to wait and see how further developments will affect this cryptocurrency. Meanwhile, Pi Coin continues to grow and develop, offering an attractive alternative for cryptocurrency investors and users. In any case, this is an interesting period in cryptocurrency history, and further changes are sure to come.

Source:

HOKANEWS.com

 

 

 

 

 

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