At the present time, a technological revolution is taking place that embraces the world economy, due to this, the expert in cryptoeconomics Alejandro Sewrjugin considers it as “The third world revolution, after the French and Industrial Revolution”, depending on it , it is necessary to point out some definitions about the cryptoeconomy, according to Vitalik Buterin, the co-founder of Ethereum during the event EDCON (European Ethereum Development Conference), held in Paris, France, pointed out that “Cryptoeconomics is the union of cryptography and economics at the heart of the public R & D (Research and Development) Blockchain”. In such a way, the cryptoeconomy consists of using a collection of cryptographic and economic building blocks to build.
In the same vein, Ethereum developer Vlad Zamfir explains cryptoeconomics as “a discipline that examines the protocols that regulate the production, emission and consumption of goods and services in a localized digital economy” in such a way that, cryptoeconomics presumes that a Through the democratization of the monetary issue (cryptocurrencies or Bitcoins) and through a technological platform (Blockchain) there will be a world of equals, with a distribution of perfect wealth. In this sense, the Blockchain creates a new global community, where through trust and the bond between human beings money is obtained.
Seen in this way, cryptoeconomics deals, then, with a new way of thinking and developing economic mechanisms applying cryptographic techniques and technological tools to make these developments possible. In such a way that cryptoeconomics makes blockchain technology become innovative, since by combining elements of cryptography, network theory, computer science and economic theory, it can create new technological tools that are currently changing the world.
It should be noted that the Blockchain technology platform has favored the rise of cryptocurrencies, in fact the Bitcoin, the transfers in Bitcoins are carried out cryptographically. Each transaction is signed with the private key of the issuer and with the public key of the receiver. The network as a whole is in charge of validating that the same coin is not used twice. This control is done by keeping a public chronological record of the transactions, known as Blockchain
In the same sense, the Blockchain favors the decentralization of cryptocurrencies, since the operations are not controlled by any financial institution or public body, evading the controls of traditional banking, the emerging alternative digital banking is Blockchain, which offers security and confidence , facilitated a secure registry of the transactions that it carries out without intermediaries, and favoring that through the cryptocurrencies payments of goods and services can be made.
In the same way, the Blockchain favors, that the identity of the user is confidential, the cryptocurrencies depend on themselves and on the users who are the ones who carry out their own transactions. They are totally disconnected from banks, in terms of their accounting records and administrative processes. However, Blockchain technology goes beyond cryptocurrencies, because it is associated with the internet of things.
Therefore, from my point of view, Cryptoeconomics goes hand in hand with the Blokchain, because it is achieving that many companies, organizations and financial entities are orienting their financial and economic processes to the use of the Blockchain platform and the cryptocurrencies, in view of the instability of the global economy, Blockchain could represent a lifeline of the world economy.
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