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On the one hand there is a latent and committed support of banking institutions with Bitcoin, cryptocurrencies and the blockchain, however, other institutions intertwined with the commercial area consider this "new economy" a bubble that counts the days until its implosion. Do you want to know the reason? keep reading why it will be discussed in this article.
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Epitaph
The avant-garde sense of cryptocurrencies and blockchain in their correspondence to modernity from a conservative point of view have "challenged" both economic and banking institutions as well as past dogmas and laws that were faithfully followed. As a consequence, this novel challenge of cryptocurrencies and the cryptoeconomy generated a positional dualism in the public. A part for and a part against. But all this caused by the lack of knowledge, the computer revolution, the sudden leap from technology 2.0 to 3.0 in the hands of reengineering and entrepreneurship.
Bitcoin as an ally:
Bitcoin is a fundamental ally for the economy due to its duty with the affiliate network, in addition to the investment variant that allows the large entry of new users into the network, who together, integrate a "digital and financial democracy" of all and for all.
On the other hand, the variability of the price / value of the BTC allows to generate interests added to the funds obtained, that is, to earn fractions or percentages derived from the amount expressed, this can also imply in the devaluation of the same, however, recent surveys have demonstrated that the public that invests in Bitcoin is willing to be able to bear the negative impacts of their investments, for the simple reason that they would otherwise freeze before investing. The impact of new trends, paradigms and technologies has brought the opportunity to realize new strategic windows of economic growth, among them we can also catalog the desire to make transfers in short periods of time without high margin commissions and the ease with which we can do it.
Bitcoin as an enemy:
Some of the banking institutions have discussed the effect of cryptocurrencies on the economy, some of these conjectures have been determined in negative reviews by prospects and economic laws or simply by parallels with the technological system. "The advance may have sequels" is part of the premise that is discussed gradually, purposely due to the short time in which cryptocurrencies, the blockchain and other commercial innovations have been studied.
The banks show their disagreement with decentralized systems that differ from the classical model and that they alienate from capitalist security. Opinions against add that Bitcoin, as well as other cryptocurrencies, allow the investment of third parties who have resources of little responsibility and doubtful origin; However, the criticism of the US dollar considers that the same occurs in the monetary mechanism of different countries with or without cryptocurrencies.
The Blockchain as an ally:
It is true that Bitcoin has been described millions of times as "digital gold", so this nickname has greater recognition in blockchain technology 3.0. Since with it not only small-scale changes could be made, but strong digital revolutions. However, this idea of the blockchain as an ally is perhaps the most likely thing we will see in the coming months, since the cryptocurrencies whose main genesis is the blockchain, use a technology based on totally viable, fast and secure blockchains, then it is something that banks should bet on. Clearly, for the development of new functions and platforms based on databases and blockchains that allow easy access and viability between the consumption of electronic data, as well as data management, or simply interbank or intermonetary transfers.
Technology on the one hand, economics on the other:
Part of the academic difference is in theory due to the dualism or parallelism that exists between the area of technology and economic foundations. Denying the principles and dogmas of the classical school of economics for mere "computing and digitization" is not something too convincing internationally by regulatory organizations. It is known that in some cases this technology will self-surpass, but it is expected to study its projections even more coldly before a really drastic change.
Banking institutions feel comfortable with the system that until now they have developed for their interaction and operation, the inclusion of Bitcoin, cryptocurrencies or Blockchain in a conservative aspect can bring atrophies to the current model that is frequently used and mark a route with little access or practicality for those who are not steeped in new technologies.
Economists demand respect for Smithian, Marxist, Keynesian and other epistemological principles of the mercantile part. While the futurists who bet on innovation demand that the development of technology is inevitable and we must together update ourselves, as well as our economic models.
BITCOIN FOR EVERYONE!
It is true that it is still quite early to announce the alliance of new technologies with the international economic system, but this is something that can be complemented on the eve and ant steps. It is not something that will happen overnight, we are all part of it, Bitcoin is a teenager, the real gold is the Blockchain and its usefulness, the real problem is misinformation and ignorance or omission around new technologies. We only have to give time so that the market can study in depth the opportunities and possibilities of the symbiosis or economic-technological function and what it may hold in the coming years. It is much more than a position for or against, we all form the unit.
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