After Luna’s Crash, the Cryptocurrency Debate erupted Sharply. For many, Luna has become new evidence that crypto is too unstable to play a significant role in the financial system. For me, it was an affirmation of spending my days on something important and right.
The world is facing a change in the currency with which we have a relationship. The world is being digitized. Our trading style means that there is less and less need for different currencies. This is the reason for the emergence of cryptocurrencies.
And while the Internet grew 63 percent annually from 1990 to 2000, cryptography is growing at more than 113 percent annually. By the end of 2022, 600 million of us will be using encryption. During 2024, more than a billion.
With this growth, and the world becoming more and more digital – Should we leave on the platform with paper in hand? Or should we allow authorities to contribute to the control measures that make encryption easier and more user-friendly for all of us?
I think the central bank system, as we know its regulation today, must change. Banks should be seen as more independent – but regulated.
Regulations protect equality and values - especially for people of the lower classes. The 1.7 billion people who do not have a bank account today are critical to bringing them into the financial and digital world.
Should we use cryptocurrencies to increase financial inclusion In Africa, for example, there must be a digital currency backed by the national currency at all times. One for one, 100 percent.
With a solution that is always regulated, backed by banks, and a one-to-one balance that is reviewed on an ongoing basis, that will not be possible with the collapse in Luna.
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