KYCbench Posted October 28, 2018 Share Posted October 28, 2018 The creation of new digital economy has two components: the modernisation of the existing “analog” economy, and the construction of a fundamentally new “crypto-economy”, which is based on new digital products and assets. Its manifestations are not only the beginning of payments in crypto-currencies or the receipt of investments using ICO procedures as a form of crowd-funding, but also the generation by telecommunication companies, social networks or search engines of new digital profiles of subscribers that do not fall under the current law on personal data. If in the former case there is an established system of law, then in the second – the world has to create it anew, starting with a single glossary and ending with civil-law relations. It is for this reason that the head of the IMF Christine Lagarde, who can hardly be called a proponent of the distribution of crypto currency, called for regulating this industry systematically and without excessive rigidity. And this was one of the main results of the meeting of finance ministers and heads of G20 central banks in Buenos Aires. World regulators already recognize crypto assets, but still hesitate to call them money. The pace of development of crypto-economics amazes and overturns all forecasts about the next speculative soap bubble. The volatility of the crypto currency, which we observe, is a common occurrence for newly emerging industries. Recall how through the ups, downs and at some point the cleaning up of excess garbage was born the world IT industry, as appeared Apple, Amazon, Google. With the advent of blocking technology and digital assets, this industry is moving into a new quality. It is enough to look at the growth in the number of projects and investments in blockchain over the past three years. ➡️ Read our article to learn more!! https://www.kycbench.com/rules-for-cryptoinvestors-how-not-to-prevent-rise-of-new-industry/ Join our Telegram Groups: https://t.me/kycbench (KYCBench Announcement) https://t.me/KYCBenchOFFICIAL (KYCBench Community) KYCbench, your reliable KYC partner www.kycbench.com GDPR & ISO/IEC 27001:2013 compliant Link to comment Share on other sites More sharing options...
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