Cryptocurrencies and the new experience in using money
Still misunderstood, cryptocurrencies have enormous potential to disrupt and change the way we use money.
Since man discovered the notion of exchange value and felt the need to use a currency to assign this value, the relationship with money has remained reasonably the same. From the first coins made of gold, silver, bronze and various metals, to the emergence of paper money notes, physical money proved to be useful and also a symbol of national identity. Along with defined borders, the flag and the national anthem, currency was a way of signaling a sovereign nation. By adopting physical money, countries were able to demonstrate the strength of their economy and, consequently, enjoy more resources to promote growth, well-being and power.
Even with the emergence of electronic means of payment, particularly after the universalization of international credit cards, physical money remained the preference of most people. The classic expression “of the money kept in the mattress” highlighted this attachment to banknotes and coins.
But, little by little, experiments in the use of digital currencies were gaining ground. Bitcoin, secured by the blockchain protocol, represented a disruption in monetary standards in use by people and businesses. The same logic guided the creation of other cryptoactives. Data from December 2022 points to the existence of more than 22 thousand cryptoactives in circulation, distributed and accessible through the modality's applications and marketplaces. To give you an idea of what this means, the 193 Member States of the United Nations register 182 official currencies.
Still misunderstood, cryptocurrencies have enormous potential to disrupt and change the way we use money.
Since man discovered the notion of exchange value and felt the need to use a currency to assign this value, the relationship with money has remained reasonably the same. From the first coins made of gold, silver, bronze and various metals, to the emergence of paper money notes, physical money proved to be useful and also a symbol of national identity. Along with defined borders, the flag and the national anthem, currency was a way of signaling a sovereign nation. By adopting physical money, countries were able to demonstrate the strength of their economy and, consequently, enjoy more resources to promote growth, well-being and power.
Even with the emergence of electronic means of payment, particularly after the universalization of international credit cards, physical money remained the preference of most people. The classic expression “of the money kept in the mattress” highlighted this attachment to banknotes and coins.
But, little by little, experiments in the use of digital currencies were gaining ground. Bitcoin, secured by the blockchain protocol, represented a disruption in monetary standards in use by people and businesses. The same logic guided the creation of other cryptoactives. Data from December 2022 points to the existence of more than 22 thousand cryptoactives in circulation, distributed and accessible through the modality's applications and marketplaces. To give you an idea of what this means, the 193 Member States of the United Nations register 182 official currencies.