Virtual currency european would be away

The creation of virtual coins government is a topic of discussion in many nations of the world. This is especially following the announcement of the future release of Pound, the virtual currency of Facebook. And the strengthening of the cryptocurrencies in recent years. Being a debate that has touched even the countries of the European Union, where it talks about the regulation of the Blockchain.

The need for a virtual currency

The international financial system is complicated. The communicating vessels between one country and another, there are, but they are difficult to use and maintain. Avoiding the movement of capital required by our modern economy, and therefore hampering the success of many companies. In a globalized world like ours, the connectivity of economic lagging behind of the social is a problem. Thus, while our citizens interact with one another across borders, it is difficult to trade. That represents a huge opportunity loss. And to solve this problem, the cryptocurrencies and technology Blockchain, have advantages second to none. That will help to reduce the time of execution of international transactions, from several days to just a few seconds. As evidenced by the criptomoneda of Ripple, the XRP. For governments, this is an opportunity, at the same time a challenge. Therefore, if they choose not to ride the wave of the crypto revolution, and to exploit the advantages of the technology Blockchain. There will be others that take their place in the economy, whether the virtual currency of Facebook, Pound, or the virtual currency of other countries such as China.

The European Union and the Blockchain

It is for this reason that, recently, we have been able to read news from different countries of the world. Whom are currently developing their own virtual currencies of government. To take advantage of the benefits of the Blockchain while facing the competition of other actors. Both the public sector as the private. So, they began to arise rumors on the likely development of a virtual currency european. With the voices of the government and the private sector to support this development, which began to be seen as safe. However, a draft of a working group of the presidency of the European Commission, might indicate otherwise. For the same, according to the information made available to CoinDesk, I would recommend the creation of a regulatory framework for the cryptocurrencies and stablecoins. But does not recommend the creation of a virtual currency european, but that looks like an option that should be “explored”. “The statement is to highlight the need for an adequate regulatory framework for these stablecoins and, as a result, you must explore different ideas. One of them is the possibility of having something that is managed by the ECB [European Central Bank] and other central banks“. We read on CoinDesk about the draft. Although this means that it is not likely that we will see a virtual currency of the EU soon. It is still a good news for the crypto world, and the countries of the Union want to create a regulatory framework modern technology Blockchain. As a matter of urgency for the development of the cryptocurrencies, which makes our Data of the Day here in CriptoTendencia. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.

Did you like the content? Share it

About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.