Cache Itn

Cryptomaters invite themselves to the World Economic

26. January 2021 at 12:26 by admin

Cryptomaters invite themselves to the World Economic Forum in Davos

Cryptomoney is on the agenda of the World Economic Forum in Davos, which takes place this week. What is there to bring more regulation, or to solidify the status of digital assets?

The World Economic Forum started its annual meeting today. Business leaders, politicians and economists will debate in Davos the topics that make up today’s economy, including cryptography.

At least that’s what the programme shows. Two sessions at the Davos Forum will be dedicated to Bitcoin Optimizer cryptomoney, and they are entitled: ‘Resetting Digital Currencies’. As a sign of this rather wary approach, not all guests are particularly pro-cryptos.

Andrew Bailey, the governor of the UK central bank, is indeed a guest at these sessions. And he hasn’t distinguished himself for his love of crypto-currencies, quite the contrary. He explained last September that they had “no connection to money”. There is also Hikmet Ersek, the president of Western Union. However, the company has shown itself to be more open to cryptomoney, as it had announced its intention to acquire MoneyGram last summer.

The questions asked during these two sessions will also touch on regulations, according to the programme:

“What rules, practices and partnerships are needed to take advantage of the opportunities presented by the boom in digital currencies? »

Going beyond digital central bank currencies

These sessions seem to show that the World Economic Forum’s concerns extend to cryptomoney as a whole, not just central bank digital currencies. Last year, the annual forum developed a “toolkit” to assist central banks in the development of a digital currency.

So the question is:

• is it a good thing to take better account of managers and large companies in the integration of cryptosystems?
• Or will they be hindered by future regulations?

The last few months have already shown that the major economies tend to want to curb the cryptomoney industry. In France, digital currencies are now facing more government oversight. In the Netherlands, exchanges are gradually being forced to collect information on the wallets receiving the withdrawn funds. And the measure could soon arrive in the United States, according to Brian Armstrong, the CEO of Coinbase.

The development of the encryption industry will necessarily take place under the watchful eye of governments. But while some see this as a sign of maturity on the part of the industry, others are concerned about what they see as an attack on the decentralisation of cryptomoney. Here, too, the debate is open…

Posted in Economic