The Dissemination of Crypto-coins is an Irreversible Process.
Original article by. Moeda News
Mexican digital entrepreneur Eduardo Cavazos believes that the crypto market will have a cycle of expansion and go through a debugging process within the next two to three years.
With the vision of uniting Latin America around digital currencies, Mexican entrepreneur Eduardo Cavazos, co-founder of the Alteum Platform, came to Brazil for business and talked to Moeda. News about his assessment of the market for crypto-coins and its interfaces with the traditional economy.
“The development of digital currencies is irreversible. Whenever a new technology emerges, the status quo tries to prevent it from developing. And history shows that this is useless. Therefore, in relation to the crypto-coins there is only one possible prediction: they will dominate the Earth,” says Cavazos.
In fact, examples of this kind of persecution of new technologies have recurred over the millennia. It happened with fire, metal, papyri, the press, television, satellites, and of course, the Internet. Pioneers are always persecuted, called heretics or outlaws, and are often punished for their daring visions. In Greek Mythology, the myth of Prometheus exemplifies this precisely: Prometheus was a Titan who appreciated mankind, and so he stole fire from the Olympian Gods and gifted it to humanity, an act that enabled progress and civilization. He ended up being punished as warning, condemned to eternal torture: every day an eagle would devour his liver, which would regenerate so that the torment could be repeated the next day. This cruel punishment was justified by Zeus with the argument that by dominating fire, man could eventually become as powerful as the Gods.
The concern of the powerful to keep their power and privileges unchanged remains the same. Therefore, digital coins have been persecuted and often slandered by traditional structures. “One of the most recurring arguments is that the production chain of digital coins is not regulated,” says Cavazos. “But governments are already thinking about creating laws to run this sector. They believe that by promoting regulation, they will slow the pace of development of digital financial ecosystems. That is quite relative. In some cases, this strategy turns against those who want to interrupt evolution,” he notes.
According to the Alteum co-founder, the government of Mexico, which recently enacted the FinTech Act, set forth in the chapter on crypto-coins, a term determination of 24 months for the issuance of trading licenses for exchanges. “As a result, the government prevented the creation of new companies, which ended up helping those who already have an operating license, such as Alteum, because it gives us a huge competitive advantage since we will not have to deal with other Mexican companies entering the market,” he says. “But it is extremely unfair to the market because it delays innovation and undermines free competition.”
The Mexican law that determines the creation of new exchanges for two years has a limited impact to the extent that this market has a transnational DNA and that digital businesses do not take borders into consideration. Governments may even legislate to control exchanges because they are the interface of crypto-coins with FIAT, but there is no way to curb the emergence of exchanges on an international scale. “In the coming months many [businesses] will arise and the competition will intensify. Everything indicates that the competition will be in the price of service tariffs. The pressure will be to reduce rates. But this is not sustainable because the exchange costs are very high. Obviously many will fail and this will debug the market. In the next two years, at most, three, all this will happen,” predicts Cavazos.
“All cycles happen very fast in the digital world. In six months, a novelty can become the standard — this is currently an industry on steroids.”
You can read the original Portuguese version of this article here:
https://www.moeda.news/noticias/a-disseminacao-das-criptomoedas-e-um-processo-irreversivel
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