Cryptocurrencies: A new world order

cryptoWhat if there were such a powerful technological advance that could transform the pillars of our society? A technology that would radically influence the functioning of our economy, and change our perception of trade, property and trust.

This technology already exists, and it is called “cryptocurrency”, the majority of people think that bitcoin or other cryptocurrencies are only virtual currencies or transaction systems. But if we look more closely, we will see that this monetary aspect is just the tip of the iceberg. With the advent of cryptocurrencies, for the first time in its history, money is no longer controlled by banks or governments, but by the people who use it; the maintenance of purchasing power is no longer entirely dependent on the State.

Money exists to facilitate trade; and since modern times, trade has become more complex to manage on an international scale, which is why we use trusted intermediaries to facilitate and validate our transactions (governments, banks, accountants, notaries, cash). This brings us to the precise objective of cryptocurrencies, the ability to settle our transactions without any intermediary, in the greatest freedom and security. With this new currency, we no longer need approvals or permissions from service providers to manage our portfolio independently. Imagine a world where we have total control over our wealth, where everyone can now transfer their funds without any financial, temporal or geographical constraints; this was not possible before the invention of cryptocurrency.

cryptoCryptomoney is based on blockchain technology (block chain) which allows information to be stored and transmitted transparently and without a control body. It is a kind of decentralized and collectively controlled account book, based on the peer-to-peer principle (peer-to-peer), from a distributed database. It is the blockchain that ensures the security of transactions by sharing trust, a system that is reputed to be transparent and unfalsifiable and whose scope goes far beyond the currency alone.

Today, the major banks also seek to make the most of the financial potential of the blockchain, with the aim of saving on financial transactions, but also to set standards across the financial industry. The banking industry has experienced many crises and continues to generate billions of costs, for a large part of society that does not have access to the various existing banking services, borders and financial systems create barriers and do not encourage economic development in some parts of the world.

Cryptocurrency is not about its investor, ethnicity or income; it is a network that is open to all, easy to access, and belongs to the people. This currency is free of all taxes or financial charges, it emancipates us from all economic fundamentals and can soon be presented as the greatest technological invention that the human race has known since the Internet.

Below is a presentation of the price evolution of the 3 main crypto currencies over the past year, each of these currencies beats daily records and outperforms the stock markets, however renowned economists like “Robet Graham” believe that these currencies have not yet reached their potential for long-term appreciation.

cryptoMost countries are beginning to recognize the enormous potential of these virtual currencies, and large multinationals such as Microsoft or Google are heavily involved in promoting this new technology. To date, the total capitalization of crypto currencies is approximately USD 280 billion*, and its daily volume represents nearly USD 20 billion*. By way of comparison, BITCOIN’s capitalization of USD 160 billion* is similar to that of the giants BOEING and COCA-COLA, which are USD 165 billion and USD 190 billion respectively*. More than 1300 crypto-currencies have been created since 2008*, but only about twenty of them stand out among the general public, and each will have a very different future, because the majority of them will probably disappear. The challenge of tomorrow will then be to know which sustainable cryptocurrencies to invest in, and which will become a new pillar for the economy and world trade.

“References”

https://www.investing.com/

Achraf MEKKI

Achraf MEKKI


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