Photo: PixabayThe future belongs to cryptocurrencies, bitcoin, digital currencies and blockchain technology, and no one can stop that, concluded Aleksandar Matanović, CEO and founder of the first crypto exchange in Serbia Ecd.rs and Ana Cukić Armstrong, founder and CEO of AIM Cube from London, at the recent Business Trends summit at the Hyatt Regency Hotel in Belgrade, organized by Instore magazine and NIN.
“Bitcoin was created in the midst of the global financial crisis, in 2009, and it is a type of property that is harder to alienate than any other property in the history of mankind. Cryptocurrencies are information and are transferred easier than anything else, which gives them value”, said Matanović.
According to Matanović, John Locke also said that "every man has some inalienable rights by birth, those are the right to life, freedom and property. And the job of the government is to provide that."
“The right to property is very important and a person during his life in his productive age tries to acquire it and to "store" it in some way for a period when he will no longer have energy. An equally important item is to protect that acquired property”, he stated.
Giving examples of how the state has directly endangered property rights throughout history, he stated that placing bitcoin on the market is a revolutionary solution, in terms of protecting natural rights, writes ekapija.com.
“Since that moment, this currency has experienced a quantum leap and started to change the concept of understanding money”, stated Matanović.
Referring to the history of trade and the role of money, he emphasized that through the history and development of mankind, from the period of the original barter, we came to the moment of paying for goods with gold coins, and then paper money took over the role of means of payment.
"Paper money, like any currency, is tied to trust, ie, although paper money is worthless due to the material from which it is made, it gained its value because we, as users, trust the issuer, ie the central banks, ie. the state that prints it”, he emphasized.
According to him, therefore, the state has the power to control that money, which has not always proved to be a successful solution throughout history.
“Money has often lost its value, while the emergence of cryptocurrencies is changing such a concept. Paper money also has its limitations, because if you are in a country, you are forced to use the money of that country, while cryptocurrency provides the opportunity to speak and its value is related to its design. The cryptocurrency market is global and open, and the only obstacle is creativity”, said Matanović.
Trying to bring the concept of cryptocurrencies closer, Matanovic said that "the freedom to dispose of those assets is greater than the freedom to dispose of any other assets." It is possible to move it from one end of the world to the other, and for that we do not need intermediaries or the banking system.
“When it comes to regulations, it depends from country to country, and positive competition is already slowly developing, when it comes to the market of this currency, because competition between countries is slowly developing. At the moment, Texas is the center in that respect, while this currency is also used in Miami”, Matanović explained.
As he stated, although in the future there will probably be resistance from older politicians and bankers to cryptocurrencies, the future in the form of a new coin will surely come, although it will take a long time for humanity to get used to it.
Ana Cukić Armstrong also believes that blockchain technologies and cryptocurrencies have a place in the present and in the future. According to her, the moment when bitcoin was placed on the market, during the great financial crisis, could not have been better.
“Banks gave immoderate loans, and when they fell into losses, the state took money from taxpayers to help banks get out of the crisis. In that way, "a worker, an ordinary person, a taxpayer" helped the banks”, she emphasized.
After that, Satoshi Nakamoto places a "decentralized system" on the bitcoin insight market and "plays on the fact that we do not trust banks", pointed out Cukić Armstrong.
As she pointed out, apart from the fact that the beauty of this digital currency is that no one can take it away from us, "cryptocurrencies are liquid investments!"
A blockchain is a chain of records or blocks that contain data, which are connected by cryptography.
According to Ana Cukić Armstrong, some companies, such as Porsche, have their own blockchain - "insurance companies are also practically unstoppable in this transition process," she concluded.
Source: ekapija.com
