Why cryptocurrencies should be formally supported

Written by Davies on / Reading time: 3 minutes.

Why cryptocurrencies should be formally supported

None of the cryptocurrencies in the world starts with the aim of being used for money laundering or to purchase illegal products, even though this is a reality. The dollar also came to the world to finance manufacturers companies of American and British nuclear weapons. However, it is also a reality. In this way, as revealed by the report “Don’t bank on the bomb” published by 2015.

Then, why some parts of society are so reluctant to the cryptocurrency use and so tolerant against the dollar?

The origins of this coin start back to 1785, when it was adopted as the official currency in United States. It's been more than two hundred years, more than enough time to adapt and get used to the applications that it has been acquiring. Perhaps this is the main reason why the society continues to use the dollar, despite being aware of the activities for which has been oriented.

We don't want a tolerant society with the illicit uses of the cryptocurrencies, as we are the first who work to prevent money laundering. What we pursue is the creation of a more secure and transparent system based on the blockchain logic, able to give society the power over their own money.

With this aim, some cryptocurrencies have begun to consider the possibility of having the support of a society or company.

What good does this initiative do cryptocurrencies? How does it influence in increasing their security and transparency?

Do you know what the company’s backup is for a virtual currency?

So far, it is a new point which we will be talking about later. Today we want to tell you what it is to have a support company in cryptocurrencies, starting with its security and ending with its transparency. Few doubt the level of growth that cryptocurrencies are experiences, then just take a look at conferences such as CriptoMad, held last June in Madrid.

However, the dream of achieving a default and decentralized payment system on which are based the foundations of the crypto revolution has not been achieved yet. A step forward in achieving this dream can be the reinforcement of security in these virtual currencies. You already know that most cryptocurrencies are supported by altruistic teams, but they do not have companies backing them.

Without a doubt, we believe this is something that must change, so the creation of companies that support a specific cryptocurrency can be a powerful initiative.

4 reasons to bet on supported cryptocurrencies

We could find hundreds of reasons to use virtual currencies, but when it comes to having a back-up guarantee, they multiply. We believe that safety has no price, and in terms of financial assets we all feel the need to reach the highest point. For this reason, today we want to share with you four reasons to bet on those cryptocurrencies who have an institution behind:

  • Security and speed of transactions.
  • Transparency and support payments.
  • Having a collateral warranty.
  • Possibility to provide cryptocurrencies actual uses and not just speculative.

Is this an effective measure to put an end to money-laundering and other illicit activities? The only answer can be YES, although it is something that we will be watching over time. The pseudo-anonymous character and the ability to be traceable, given by the blockchain, reinforce the transparency of transactions.

Can you build companies using a cryptocurrency as a basis?

Once again, the only answer can be Yes. In this post we are immersed in one of the trendiest spots in the world of cryptocurrencies. So far, we had hardly spoken of this kind of support beyond the blockchain technology. What professionals working in their development pursue is to be as transparent as possible with the rest of the world that, if there is a fraudulent act, the transactions could be tracked.

Cryptocurrencies have opened a world of possibilities, and one of them is the creation of companies based on them.

We are building the road.