Steem Crypto Challenge Month #4 : The Future of Cryptocurrency
This is my entry in the Steem Crypto Challenge Month #4 : The Future of Cryptocurrency that @steemitblog runs. In my opinion, talking about the future is complex, because everything is subject to change, however, it is necessary to go a little further in time and foresee what could happen starting from the current reality. Which of course will always be influenced by our very vision of things.
That is why people who have a specific tendency of thoughts are totally opposed to cryptocurrencies, but instead others may fall in the opposite extreme saying that the life of banks is over, fiat money is going to disappear, and the total empire of cryptocurrencies and the Blockchain will come... I have my vision about it, and that's what I would like to share with everyone who likes to read, whether they agree with me or not, every opinion is welcome, that's what it's all about, so let's start.
There are a series of questions that @steemitblog leaves us so that we can develop our line of thought, I will answer one by one, as I think they are quite specific, it is not necessary to answer them all to participate, but if you want you can do so. I have read many interesting things in other posts, and I would like to make my approach.
Is the awareness and use of crypto-currencies growing in your country?
My home country is Venezuela, and I must say that in that country the crypto movement is impressive. I believe that the presence of Venezuelans on the platform is more than notorious. Now, I currently live in Bogota, Colombia. Here I can say that the crypto-currency movement is remarkable. There are even some sites that accept cryptomonedas as a form of payment, especially BITCOIN, which is undoubtedly the most recognized currency.
I have been able to see dental centers that accept it as well as clothing stores. But I know that there are even restaurants that accept them. So yes, I can say that it is a field that is growing notoriously. I recently wrote a publication in which I mentioned that a business association called Colombia Fintech is supporting the use of cryptocurrencies. Here I leave the post if you want to take a look: Steem Crypto Challenge Month #4 : The Future of Cryptocurrency / Fintech Colombia
What is the government's attitude towards crypto-currencies in your country?
I particularly believe that a good part of the government accepts them, however, they are trying to create a regulatory framework in which they can have more control over some possible problems that come with moving funds anonymously.
To justify why I believe part of the government supports the crypto and blockchain movement, I show the following news articles that speak for themselves:
This article shows that the Capital City Council recognizes Craig Wright as Satoshi Nakamoto. I'm not talking about whether he really is or not. I am talking about the fact that an important political body in the Colombian capital has taken a great step in recognizing him as such. Isn't this a clear sign that there is support for crypto-world?
Let's see another relevant news that talks about the movement in Colombia in relation to cryptocurrencies:
Colombia is in the list of the first 3 importers of coffee in the world, considered as one of the best. But the world crisis has caused production to decrease. Based on a blockchain the coffee producers have created a cryptocurrency called COFFEE...
This currency is backed by the coffee bean itself, so it fluctuates with the price of coffee. It is a way to exchange goods and services among the different producers, as well as to be able to acquire machinery and pay for them with this token.
"Applications have been developed for iOS and Android, which in addition to functioning as coin purses, will provide consumers with the traceability of the entire production chain."Source
This is how this country advances in cryptography.
Are laws and regulations being introduced to help or hinder the growth of crypto-currencies?
The truth is that there is much to be done, and regardless of the framework the growth in volume of BTC is exponential. Since 2018 this regulatory framework is being processed and discussed under the supervision of the Ministry of Information and Communication Technologies (Mintic) and the Superintendence of Industry and Commerce (SIC).
The final law has not yet been published, but on April 19 the first draft of a bill in Colombia regarding exchanges with cryptocurrencies was published.
I am attentive to the facts, to see what will happen with all this they are working on. I am not sure if they will benefit or slow down the development of crypto world in this country, I hope it will be for the benefit.
Also the Unique Registry of Crypto Exchange Platforms (RUPIC) was created In general the purpose, or at least that is what they express is to facilitate the verification process and that each person who wants to invest in a platform can know if it is registered or not, in theory this should give a better index of confidence.
In a certain way, the aim is to be able to determine a legal framework in which the legal and the illegal are not confused.
Do you have a positive or negative outlook for the future of crypto-currencies?
My perspectives are 100% positive, otherwise I would not have almost 3 years on this platform, if I felt that this has no future, I would not waste time, on the contrary, I would like to have more time available to be able to dedicate much more. I believe that this that began 10 years ago now is when it has left operation.
I can't say that the emergence of BTC and the rest of the cryptos means the end of banks, of the traditional economy and other things, I can't exaggerate. Rather, I believe that there will be a unification of the traditional and the new, which is this, Blockchain and Cryptocurrencies. And being here learning new things every day means that we are on the right track, that later on, it could be months, years or decades, I've been through what I've been through, and all this will be something familiar, something known to us.
For now I conclude with this publication, I hope I have explained myself adequately, at least I do so from my perspective, from this country where I now live, and which undoubtedly has a lot of cryptographic movement.
I say goodbye, until the next publication in which I will answer the questions that were left pending.
Good weekend.
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I'm glad the movement of crypto currency in your country is impressive. Also, that the situation of cryptocurrency in the country where you live is remarkable. You must be quite happy as a crypto enthusiast. Certainly, a regulatory framework is need to manage the possible challenges that can arise from the use of crypto. I expect governments all around the world to come up with regulations on crypto usage.
Nice post. Thanks for sharing.
#onepercent #nigeria
Actually if @jehoshua-shey
I am glad that the crypto movement here is very good.
Particularly I have used a platform called localbitcoin a lot, here it is very used, and it is quite safe.
Thanks for commenting.
Greetings and hugs to Nigeria.
I hope that the situation is normalised in your country, I have known that things are very hard.
Take care.
Hello dear friend, how good is comlombia progressing in terms of cryptocurrency, the most surprising thing is the cryptocurrency of coffee, it seemed to me something very great, I hope it grows and has a lot of success
Yes, it is impressive actually, some things that are happening here speak well of what is to come, at least I see it that way, I am a believer in cryptocurrencies.
Thanks for your comment @ramsesuchiha
That will set the tone for the future course of crypto use and trade regionally and for the better a friendly regulatory framework will attract the attention of enterprises, which will further bring strong fundamental value to the crypto market.
I see this as an additional option and opportunity and a perfect way to tell the Banks that you need to be competitive, more friendly to the owner of the asset, the banking monopoly will certainly end. The best thing could be to bring CBDC as a state control asset in place of digital fiat.
Thank you.
#twopercent #india #affable
Hello @sapwood
Certainly, some time ago I made a post of a CBDC research. And I think it's a good way for states and private banks to enter more deeply into the world of digital finance, but also to encourage them to consider more the people, the customers, who are the ones who actually maintain the banks.
Thank you very much for your valuable feedback.
Greetings @josevas217. Certainly in Venezuela the adoption of cryptomonies has been remarkable, perhaps influenced by the economic crisis we have sought options on the Internet which has moved its use. But the fact that businesses in Colombia accept them as a means of payment I think makes their adoption in this country more impressive. Let's hope that as its implementation advances, so does its regulatory framework and we will see a real use of it as a means of payment in businesses.
Shopping mall acceptance, coffee token payment idea, bill payment are some nice concepts. Hope to see all those into existence by distant future. Enjoyed by your post.
When a currency is backed with real assets than its value will have a sustainability even in the long run. I have liked the issue of COFFEE token in Colombia.
#twopercent #bangladesh
Hello @engrsayful
Thank you for commenting.
The truth is that yes, the coffee thing when I read it was super interesting. And it is something that seems to be being implemented in other Latin American countries.
This is considered SPAM
Place a comment on a publication, whose comment has nothing to do with the publication itself.
I understand the point of promoting some service or exchange house, as in this case, but it is not a good idea, please do not do it again in any post of mine, or in any other.
I understand why you have such a low reputation, I assume more than one has voted you down.
I am not going to do it, but, I only say to you, this is SPAM, and it is not well seen.
#twopercent #colombia