Good morning.
Today I’m writing a little about what I’m seeing around me. It’s a little sad, but at the same time encouraging for us.
The point is that we still see a lot of people supporting the use of physical currency (banknotes and cash), or rather, rejecting and opposing digital money.
Especially cryptocurrency. It seems to me that people prefer to keep suffering the blows dealt by banks: money lost from accounts, exorbitant fees, and even bank failures, when banks use depositors’ funds in the owners’ family ventures simply because they are related, regardless of the risk involved. The most recent example is what happened in Uruguay with Unibanco, which left thousands of savers with nothing because the bank’s owner families used their money.
In Venezuela and South America in general, this happens all the time. A bank takes money from its customers and then disappears, leaving savers and pension funds (money to get by in old age) out on the street and with nothing.
Now, to get to my point. The crypto world gives you the opportunity to manage your money; you and you alone are responsible for what happens to you. But there are a few small or big problems right now… 1- Security protocols for blockchain networks need to be improved. 2- Physical wallet devices should be created for each user when they open an account. 3- And finally, all exchanges should have security funds for special or exceptional events.
To wrap up, what I want to say is that it’s sad to see people throwing stones at something that could free you from expenses in the future, instead of supporting the initiative, just because they don’t feel like it.
And I know what you’ll say: “But exchange owners are, or have become, what bankers used to be.” And that’s true. The only difference is that this time, both they and we know what our money is doing and where it is.
And the most encouraging thing is that it has been proven that cryptocurrencies can create jobs, trade, and greater wealth, and reach most of the population with just a little knowledge and internet access 🛜.
I hope this piece doesn’t cause controversy, but I’m in favor of digital money, even at my advanced age.
Best regards, and let’s keep in touch.
