The appearance of cryptocurrencies as financial instruments that could somehow replace traditional currencies or, failing to create a new monetary system available to anyone in the world has represented perhaps the most relevant change in the history of finance and economy in the world. More detail click here.
It is due to the decentralized characteristics of digital currencies, which are marked by the emergence of Bitcoin as the cryptocurrency with the highest market capitalization. More information on the Bitcoin-Prime trading system.
Initial Bitcoin Target
At the time, Bitcoin was created by a group of programmers, whose personality was unknown until now, where only the pseudonym under which the creator of this new tool appears, which has transcended the expected plans, is known.
The base of Bitcoin resides in its platform known as Blockchain, through which all transactions executed through blocks are processed, where they are registered just as the accounting operations are kept in an accounting book; only these are unalterable.
When Satoshi Nakamoto released the Bitcoin White Paper, a relatively complicated economic and financial crisis was experienced worldwide, resulting in this new digital proposal being the solution to ongoing inflation.
The operations executed through this platform have a reasonably high level of security, where the information that is transferred is protected, in addition to the fact that international limits do not take place; consequently, the operations can be carried out from anywhere in the world and at any time or day of the year.
A set of attractions that perhaps for the world and the economy of the date was not expected and therefore much less was prepared for a revolution at the level of finance from the digital perspective.
The trust and acceptance that Bitcoin has reached to date have perhaps altered and fragmented the opinions of governments and the institutions that manage the economic and financial sector in the countries.
An adoption that leads to regulation
From a general perspective, we have seen the progress of cryptocurrencies in general, but above all, the position that Bitcoin has acquired not only as a form of payment in transactions carried out through e-commerce but also in various transactions that were traditionally carried out with fiat money.
After the COVID-19 pandemic, many people found in this digital financial resource the protection and capitalization of savings, whether they were many or few. Still, during the time of isolation, it contributed to storing value in said funds.
Although the steps of Bitcoin have been slow, the response obtained has been entirely satisfactory because it is speculated that this crypto active worldwide could become the currency with the largest reserve, surpassing the dollar’s position.
Perhaps volatility has been its greatest enemy, but it has not stopped advancing; to date, many countries have established legal and regulatory instruments for cryptocurrencies, considering their digital assets that can contribute to economic exchanges and international finance.
Without aside, the fiscal benefits of taxes on the use, management, and adoption of these instruments could represent an additional source of income for countries where the quality of life of their inhabitants and the economy could improve.
The secret is in the decrease in power.
The interest of large corporations in investments in cryptocurrencies has led financial entities to evaluate the possible inclusion of these digital products in their service portfolios. They are also beautiful to governments.
We are facing a convulsed world in search of tools that allow countries to be granted independence for free trade and international operations, establishing controls and laws that mainly control and can eliminate money laundering or smuggling.
Cryptocurrencies are usually associated with these two illicit activities contaminating the cryptographic ecosystem.
Power has always belonged to only a few countries. Yet, it is there where perhaps this digital economic model may break its foundations since it does not depend on the manipulation and control of any entity; they are decentralized by nature, and only interested parties participate.
Conclusion
The success of Bitcoin lies mainly in the avant-garde technology that the Blockchain represents. However, for many is one essential computer tool not only in the cryptographic market but also in the various economic fields of large, medium, and even small companies.
