on the crypto
In the past months there have been many countries that have expressed theirs intention to create a clearer framework of rules on digital assets able to provide guarantees to investors and preserve the potential of the system.
Se Malta e San Marino have put themselves at the forefront of this, other governments have also declared that they want to proceed quickly in this direction, starting from ours, where the Consob has concluded an introductory work aimed at establishing clear rules in particular for ICOs (Initial Coin Offering), considered by many to be the weak link in the chain and the most permeable part for those who want to defraud investors by leveraging the interest that continues to remain high on digital uniforms and Blockchain technology.
However, there are also opinions that seem to go in the opposite direction, such as that expressed by Andreas M. Antonopoulos, one of the world's best known experts in the field of Bitcoin, cryptocurrencies and blockchain technology.
Who is Andreas M. Antonopoulos
To understand the importance of his statements, we must first remember that Andreas M. Antonopoulos is one of the most listened figures in the sector, globally. Born in London and raised in Athens, he does not limit himself to an examination of technology as a simple investment tool, but also seeks to outline the consequences that it can have in political, cultural and educational terms. After graduating in computer science, data transmission and distributed systems at the University College of Londonthen participated in the founding of a technology research company in New York, which he managed himself, as well as acting as a consultant for many company executives who are part of the Fortune 500 in sectors such as security, networking, and cloud computing .
in 2014 he was then practically the first second-level teacher in Digital Currency, an assignment that was entrusted to him by the University of Nicosia in the same year in which he published Mastering Bitcoin, a text considered revolutionary and still considered the best written guide on technology, so much so that it has been translated into Spanish, Greek, Chinese, Japanese, Hungarian and other languages. A publication which was followed by many others which consolidated his fame together with his appointment as member of the Bitcoin Reference Rate Control Commission at the Chicago Mercantile Exchange.
What did Antonopoulos say?
The statements of Antonopoulos were made during the Crypto Compare Summit, event that took place in London on June 12 in which he appeared as main speaker, inaugurating the event with a keynote that lasted about half an hour.
The most interesting part was precisely where he stated that cryptocurrencies will not be subject to regulation.
To motivate his belief is in particular the consideration that being regulated by algorithms and mathematics, digital coins are able not only to guarantee billions of people the possession of a bank account with which to manage their finances, but also to make the management of the banking function more democratic.
Legislation that tried to cage them would eventually harm billions of people who currently do not have the opportunity to interact with the banking world.
It should also be stressed that during an interview following the event, Antonopoulos then addressed a long series of related issues, starting with stablecoin, decentralized exchanges, the possibility of using Bitcoin not as a store of value, but as a payment method and the scalability problems of Ethereum.
Why are your statements interesting?
The part that struck most, however, is precisely that relating to the function of digital uniforms in terms of possible democratization of a banking system that is currently viewed as a sort of enemy by billions of people and which is taking on an increasingly invasive function, also towards a policy which seems more attentive to the needs of banks than to those of human beings.
His statements as well as reiterating the hope that digital assets can limit the excessive power of banking and financial institutions, seem to go in a direction that is exactly the opposite of that undertaken by many countries, where we speak more and more openly about control over the sector and the technology on which it rests, the Blockchain.
So much to give rise to more than one suspicion about the real intentions of this policy, pushing some analysts to overshadow the hypothesis that the real purpose of the new rules would not be to protect investors, how much the need to prevent cryptocurrencies from supplanting traditional currencies in the more or less near future, while also withdrawing from the control of central institutions.
