Technology

The war of the new digital currencies: the moment of truth for cryptocurrencies

What is cryptocurrency? If we forget the media vibe and opaque vocabulary, the blockchain is just one big database where everything is recorded. It is a simple tool that allows you to store and transmit information, in a transparent and decentralized way, to validate and ensure data exchange. In other words, blockchain is a transfer of property tracked by an audit trail in a ledger, which ultimately happens to be non-ledger. These rules of the game are immutable and have been written from creation. Since the emergence of this technology, countless cryptocurrencies have emerged, contributing their share of innovations, promising increasingly faster, safer and less energy-intensive transfers … However, the king of Bitcoin remains the undisputed leader. It remains to be seen for how long. The fear of central banks To date, blockchain is divisive: it can easily be seen as fascinating or dangerous. The main international institutions criticize its use, to the point of refuting its definition of currency. “Cryptocurrencies are not currencies. Full stop ”stated Christine Lagarde. However, the interest of central banks in blockchain technology is very real. Each in turn, announces projects that define its digital currencies, such as the e-Yuan in China, the MNBC in Europe or the CBDC in the United States. Creating their own currency would allow them an absolute traceability of each unit of digital currency. This total control would have the effect of taxing each individual and avoiding any possibility of tax evasion. Monetary exchanges up to intercontinental exchanges would be instantaneous and, furthermore, at negligible cost. By nature, a cryptocurrency is defined by two parameters Click here to read more

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