Written by Davies on / Reading time: 4 minutes.
The reasons could be addressed not only to the advantages, needs, luck or originality, but to all together. Everything was born from a dream that, at first glance, might have seemed utopian. Who could imagine a decentralized payment system? Maybe, 15 years ago, nobody could have imagined that. It was in 2009 when, thanks to Bitcoin, the first virtual currency, the world began to establish the foundations of a dream that rub the reality.
No one could believe it, but today, almost ten years later, the society has been taking awareness of this issue. This is precisely what we want to talk about today, and we are ready to begin.
Determination and work build dreams!
Companies join virtual currencies from two perspectives
It all started with the Bitcoin. Starting from that point, a long list of cryptocurrencies has been developed to reach more than 1,400 cryptocurrencies in the world. It seems that the digital and cryptographic appearance to ensure and manage the transactions, as well as to make loans between individuals, has become an alternative to be considered by companies.
Headlines like 'companies joined the cryptocurrency craze’, or simply the one on the top of this post, are a clear proof that the world is becoming aware of the advantages of these payment methods. Thus, the virtual coins now form part of our economic reality. Earlier this year, a blog called Blogthinkbig.com claimed that "more than 300 companies had already created their own virtual currency". Also, they mention some examples like Kodak (Kodakcoin) and Telegram, who have offered "a new source of income and a secure platform to protect their work," they said.
They have spent months, and companies not only have been arranged to create their own currency, but some have accepted Bitcoin, among others, as a payment method. Virtual currencies are gaining more and more popularity. Some practitioners are still releasing new cryptocurrencies that provide unknown functions so far. What is their goal? Change the way in which the money in the world is transferred and paid.
Banks are also joined to the use of cryptocurrencies
Something has changed. To create a platform of transparent, instant, safe and powerful enough payments to liberate the poor of the world from the oppression of the Fiat currencies, is not an easy task. However, some professionals have already succeeded.
The cryptocurrency world is a journey that scares some people. Not all are willing to embark in this journey. As an example, we have central banks, who have been reluctant to its inclusion. The Spanish banking sector is an example of this, although there was something about the Bitcoin that captivated them. It was its technology. As shown in the newspaper ‘Expansion’, "the bank Santander do not trust Bitcoin, but they do work with blockchain". The same happens with Bankinter and another large number of Spanish banks.
If there is a reality at the moment is that some global banks have agreed to create a digital currency based on the blockchain technology. The project is called Utility Settlement Coin (USC) and was driven by financial institutions: BNY Mellon, Deutsche Bank, Santander, UBS, and NEX.
In this way, we can say that there has been an important evolution, because banking has gone from adamantly reject the use of cryptocurrencies to create their own, either to curb the Bitcoin, or for anything else. Anyway, those are the symptoms of a society that is aware of its advantages for financial activities.
New cryptocurrencies for more transparency
Currently, there has been created a new cryptocurrency that will be discussed later. Today, we only want to do a quick tour to show you how this activity has been refined with over time. Its main objective is to be as transparent as possible with the rest of the world, so if there is any fraudulent act, transactions could be traced.
We continue to grow!