05 Sep About cryptocurrencies and their influence on our environment
Blockchain technology based on the principle of disaggregated consensus provides something so far not achieved with any currency its infalsificability. There will always be someone who says, until someone finds the how, but it seems that it is quite predictable that until that happens, if it happens, our great-grandchildren will already have died.
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For those who do not know the disaggregated consensus, what it does is that the validity of the currency we use to pay at all times, is not validated only by those who deliver it, but an immense network of computers, which also do it in a way uninvited, which will never happen with the current paper money.
The real problem with current virtual currencies lies in their instability. A single example, Bitcoin spent in just 13 months worth $ 13,800 at a value of only 3,501, that is, lost 75%, and why? Well, nobody has a fairly convincing answer.
Instability prevents one of the basic principles of any economy, saving. Nobody wants to have in their possession a currency whose value fluctuates with respect to the others in the way it now occurs. The ultimate reason for this instability must be found in that the issuer is either unknown or not sufficiently solvent.
Rostrum by Miguel Ángel Temprano, CEO of Orfeo Capital