6/15/2023 - Economy and Finance

Warning Cifra

By Horacio Gustavo Ammaturo

Warning Cifra

On several occasions, we mentioned in this column that the final battle between traditional finances and the new financial models would be undefectively produced.That the influence of the leading actors in the economy of our times, the example Warren Buffet or the same Bill Gates, cataloged the cryptocurrencies as “scam” or goat in our Spanish language.That the International Monetary Fund added among its recommendations or suggestions, before granting loans, its express interest in discouraging the use of cryptocurrencies.That are more and more banks that hinder operations between the so-called “exchange”, or crypto bags, which use investors to interact between sovereign currencies and cryptocurrencies, usually called “rampa”, because it links both financial systems.Some communicators argue that cryptocurrencies are used for illegal transactions and that represent the dark side of finance and means of payment.However, the development and evolution of cryptocurrency has been sustained and marathonic in the last 15 years, fundamentally, to the support of indifference or lack of understanding of regulators.Probably, that year 2008, when the protocol of bitcoin began to be diffused, the volume of operations, the number of investors and the market value that this represented little mattered to those who dictate the rules and procedures. Just like the traditional financial system.The question was that to offer a single crypto that moved only a few dollars started to form a true global ecosystem that manages thousands of digital species, with different emission proposals and trillion dollars with a global geographical distribution.Like any bureaucratic, slow and meandering structure, the norms on the crypto world happen at all latitudes, with disparate and diffuse criteria, which confuse those who claim to be within the law and allow the free interpretation of those who circulate through the limits or outside them.These last days have been very significant about the position of the United States regarding provisions on cryptocurrency activities.The regulators launched a series of synchronized measures, which seem to be the beginning of the final battle.Security Exchange Comision (SEC), demanded the world's two most important exchanges, Coinbase and Binance. He also pointed out a number of tokens of large-capitalization projects that ranked as unregistered values.The announcement caused about $4 billion in net withdrawals from the affected exchanges.These actions of the regulator promoted that another of the larger exchanges, Robin Hood removed from his panel to the Tokens that the SEC had defined as unregistered values, in evidence of fears that are some major cryptographic entities that the SEC diverted their attention to other players as part of their repression. Robin Hood's announcement destroyed the prices of the affected tokens by downloading each more than 30% week a week.In fact, there is something no regulator can modify. The technology that supports the functioning of cryptocurrencies transcends them.Blockchain is a registry tool, far from being an asset in itself.Like the Internet, which discloses information, knowledge and uses to unite and integrate globally, can also be a means to commit crimes, discredit or facilitate irregularities.Blockchain allows you to organize open or closed registry environments, i.e., integrated with others or exclusive, using as Internet network infrastructure. In this way, infrastructure investments and operational costs are minimal.The regressive account for the final battle between the crypto world and the traditional finances is coming to its final stretch.Of course, in the short term, this apparent unearth between what appears to be antagonistic or different financial models, is the appearance of a fascinating technology that will enable finance to propose new, efficient and profitable investment, savings and loan models.Sometimes resistance to change takes inevitable processes. Fortunately, the story is full of situations where technology and knowledge are put on fear and ignorance.

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horacio gustavo ammaturo

Horacio Gustavo Ammaturo

I am Gustavo Ammaturo. I have a degree in Economics. CEO and Director of infrastructure, energy and telecommunications companies. Founder and mentor of Fintech, DeFi and software development companies. Blockchain Product Designer.

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