Lambda Piece

If you're reading this, then chances are you're into cryptocurrencies. And if that's the case, it's safe to assume that you, the reader, are an investor of sorts.

Now, what if I told you that, in the near future, you'd be able to combine both cryptocurrencies with the stock market?

Sounds far fetched, and yet at the same time this pairing seems like such an obvious one, doesn't it?

Sologenic merges these two worlds into one, and today I'd like to look at the massive importance of this upcoming platform.

Locked into Cryptocurrencies

Personally, I've always wanted to invest into the stock market. From seeing shows and films surrounding the gains and mayhem that's associated with stocks, it always seemed like an atrractive place to put your money into.

But for me, it always seemed like such a hassle to get started. As someone who never had any real experience when it came to investing, the task of getting into stocks seemed daunting at the time, and that sentiment still holds true to this day.

Generally speaking, if someone wants to buy stocks, their options are limited as well as intimidating-looking. In recent years this has gotten better, with apps like Robinhood allowing the average joe to invest into well-known stocks. While this bypasses the need for a broker, things could still be simpler. And Sologenic provides users the option to trade stocks with cryptocurrencies, giving those of us already invested in the crypto space an easy route into the stock market.

Cryptocurrencies, while not “simplicistic” by any means, are still easy to come by. And when you take into account the hundreds (if not thousands) of exchanges online, the process of acquiring your favorite coins has become far easier compared to a couple of years ago.

The intimidation when it comes to getting stocks that I mentioned earlier played a role in me getting into crypto, since these were easier to purchase and allowed me to be “invested” in something, which was the goal at the time. As such, my initial interest in crypto wasn't the technology, or the possible future gains, but rather the simple fact of being invested in something.

As time has gone by, I still believe that this “feeling” of being invested has kept me here with a stronger foothold. But the dream of owning stocks still persists, and now with Sologenic this dream can become a reality.

What is Sologenic?

Taken from their website, here's an excerpt from the story behind Sologenic:

The Sologenic team consists of a mix of 30+ experts, blockchain advocates, and professionals looking to help bring SOLO to people all around the world. With skills and experience in several areas, including software development, tech, marketing, and law, their shared goal is to modernize the current financial system.

With skilled people behind the project, one can be sure that the future of SOLO is in good hands. And for those of you who are fans of XRP, the entire project is built on top of the XRP Ledger. So not only are they planning to revolutionize the financial system by essentially merging stocks and crypto, but they're basing the entire system on a tried and proven network ledger that gives them reliability, security, and fast transaction speeds.

But how does it all work?

Well, if you'd like the “full picture” then I'd suggest you visit their website, as this is where you'll get all the info you'll need directly from Sologenic themselves.

But to give a brief explanation, here's the gist of it all:

Essentially, Sologenic will use the XRPL as a way to tokenize various different assets, such as stocks found on the stock market. Thanks to the speed found with XRP, these tokenized assets can be traded in near real-time, allowing users to trade stocks that are paired with cryptocurrencies. From what I can tell, these tokenized assets can be traded against either XRP or SOLO, the latter being Sologenic's own cryptocurrency coin. With all of this working together, we'd essentially get an entire platform where stocks and crypto are merged into one, giving you a wide range of options on things to invest in.

Now, before you get too excited, the option to trade stocks isn't live as of me writing this. Here's a screenshot of their roadmap, which can be found on their website:

As you can see, we still have a ways to go in terms of actual trading. But still, I feel it necessary to write about this project, as it's caught my attention from the beginning. And my enthusiasm surrounding it has only grown as time has passed.

My Own Thoughts on Sologenic

Personally, I find this entire thing very exciting. The thought of having a platform where I could trade cryptocurrencies and stocks would be a dream come true. Having these two worlds collide seems like such an obvious move, and I'm surprised it hasn't been done earlier. There's also other things to look at, such as the card that Sologenic offers. While I've personally not used it, the concept of having a card loaded with your crypto that you can use in your everyday purchases sounds very intriguing.

Not only that, but just imagine what kind of growth this type of platform would get when the general public finds out about it. How would people react to finding out that there's a place where you can invest in pretty much any assets on the stock market, as well as cryptocurrencies? I'd imagine people would flock to it in a heartbeat, given how easy it would be for users to enter into either the crypto market or stock market, or even both.

I'm rambling, but I really do believe that platforms such as Sologenic are going to be the future when it comes to financial investments. Ease of use, quick transactions, and plenty of options. With all of this coming soon, the future of investments keeps getting brighter.

Thanks for reading, and stay safe out there.

Some images in this article are courtesy from Uphold

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