This year of 2019 has been very hectic for governments around the world in terms of technology Blockchain. The announcement by Facebook of the future launch of its own virtual currency, Pound, generated fears in the great majority of the governments and regulatory institutions from all over the world. Until today, governments have enjoyed a monopoly indisputado on the monetary policy of their countries. The issuance of currency, the definition of interest rates, and all the aspects that define the instrument that will be used by the citizens of a society to purchase goods and services, are regulated by the institutions of the State. Therefore, the emergence of the cryptocurrencies, was a blow to this hegemony basically undisputed of governments on the economy. However, these had not coped till now with a threat of the magnitude of the release of a Pound, a currency backed by more than 20 companies world-class, and that could provide Facebook a power unused on international finance. It is for this reason that many countries have announced regulations and barriers against the release of the currency of Facebook. Among these, the acceleration of projects of different governments to launch their own virtual currency, which they can provide the same benefits that you would Pound, but in keeping with the monetary policy under government control. Between are coins, the more important because of the size of the economy that will support, is the virtual currency of China, to which we have been tracking in CriptoTendencia from the acceleration of work around it, after the announcement of the Pound in mid-June. Now Binance, one of the exchange of cryptocurrencies most important thing in the world, has released a report giving details about the future operation of what is already known as yuan virtual. According to this report, the virtual currency, china would be backed by the yuan physique in a ratio of 1:1, and may be used without the need of having a bank account through a two-tiered system. The first level would function by connecting to the chinese central bank, the Bank’s People of china (PBoC) with the commercial banks for the issuance of yuan virtual, and the redemption of the same by yuan physical. The second level would connect to these commercial banks with the large market of retail-chinese, that is to say with the individuals and companies that make life in this country. The transactions would be monitored by the chinese authorities, but anonymous to the users of this virtual currency. Source: PBoC, via Binance The PBoC suggests that the yuan virtual can perform up to 300,000 transactions per second, a figure impossible for the other cryptocurrencies currently. Also, still considering the way to include contracts smart on your system. This opens the door to a debate, which is why we have decided that this is our Fact of the Day in CriptoTendencia. Is it possible that the governments manage to provide all the benefits of the cryptocurrencies, but maintaining control over the economy? It is certainly a possibility, which, although complex to see at this moment, the yuan digital puts it on the table, and it will require all the attention possible on our part. 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.
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