CRYPTOCURRENCIES AS A LEGAL FINANCIAL SYSTEM

In this sense, it is no secret to anyone that El Salvador turned its economy around by establishing Bitcoin as a commercial and legal currency in that country, a decision widely accepted and criticized by others. however, the idea has not been so far-fetched since in the bullish scenario the country's wealth gradually increased.

In this sense, establishing a digital currency seems to be the new fashion of the moment, is it a coincidence or is it simply a projection that the great countries and powers of the world have on the digital market? To answer this question, let us analyze the international scenario and we will realize that the European Union (EU) has proposed a commission to evaluate the economic returns of adopting a cryptocurrency which they have called the DIGITAL EURO, a commission that will take into account the dangers of the volatility of the market, as well as the benefits of the process of minting this type of asset.

Therefore, it will be the responsibility of the assigned commission to address aspects associated with the expectations of the users regarding the new asset, as well as to determine the influence of this type of market or asset in the EU economy, in the same way a timely review of the forms of money laundering and how it would influence the act in this scenario.

Under these premises it seems to be an attractive project as investors, however, a fact is glimpsed that threatens the ideology of the cryptoactive market, which is associated with decentralization and whose parameters are broken with the emergence of a DIGITAL EURO since they assume it as an asset controlled and regulated by the European Central Bank, for which, in my opinion, it does not meet the economic criteria in which cryptocurrencies and the blockchain world are managed, that is, a decentralized process, without intermediaries, scalable and with data security.

Therefore, I have no doubts about the great advantages of the proposed asset, but I assume it as an asset that allows avoiding economic restrictions in the future for the EU countries, which seek to put fiduciary money aside for a more effective and faster exchange process and that allows us to deal with war scenarios such as the current one developed between Ukraine and Russia.

However, the fact of being subject to state supervision breaks with the essence of digital assets, which represents the attractiveness of this financial system, so I would like to know your opinion when regarding the adoption of the digital EURO.