Experts blockchain meeting this friday morning University of Alicante they coincided with drawing attention to the urgent need for public officials and public officials. new decentralized economy appeared around cryptocurrencies reconciling their interests in favor of the people, especially now metaversoit’s starting to become more than a reality with its possibilities and risks, it could never be said better.
The conference on “New problems around cryptoassets. Metaverses and digital money” served to draw the current financial structure in the world and analyze the horizon that can be seen in the coming years. web 3.0 and crypto assets.
The event was opened by the teacher. Maria del Carmen, Reverend SempereProfessor of Commercial Law and director of the BAES Blockchain Lab research group, who presented the book “Digital currency and ICT governance in UA”.
The lawyer stressed that the “new internet, which is the internet of the people,” is accompanied by “an unprecedented complexity and a diverse financial world”. regulators don’t know how to deal“.
He emphasized that “our identity will be our identity” as the nexus between traditional economic systems and new immersive technologies. The major challenges at this point are: “Privacy and security”, explained Pastor, convinced that “technology must have the ability to harmonize both things.” But for this, he added, “the social pact will need to be renewed, and there will be digital rights letters.”
digital euro
After the presentation of the book in question, Pablo Sanz BayonProfessor of Commercial Law at Universidad Pontificia de Comillas gave a talk titled “Analysis of the Digital Euro and new perspectives”. In it, he touched on the existing “dispute over the sovereignty of money”.
“Now the issuance of money is pluralized. Decentralized technology, functional as a means of payment and therefore the tension of the entire international monetary structure,” he said.
Expert has been the focus of attention since 2009. bitcoinhowever, the main cryptocurrency has been “technologically overtaken” by other crypto assets that have led to the rise. DeFi (decentralized finance) stable coins this stabilized the volatility of the market.
States themselves, who see their national sovereignty under threat” a technology they don’t control and by empires like Great Tech, they want to reroute the situation, but they cannot avoid it. proliferation of these decentralized products“.
“A dispute continues over the dominance of money”
this Europe’s reaction articulated on two legs: on one side CBDC (Central Bank Digital Currency), digital currencies issued by the Central Bank and equivalent to cash; and on the other hand, the recent publication of the first draft regulation on what the European market for cryptographic assets should look like in the future, the so-called Mica (Markets in Crypto Assets).
Sanz, in 3 or 4 years electronic wallets this will replace money, but they can also live with it. About cryptocurrencies as payment systemThe expert cites its reliance on the issuer as key issues due to its diversity, extreme volatility, and lack of supervision and security. “The volatility issue is fixed with stablecoins, but the risk is not in itself, who is the guarantor of that stability,” he added.
So the reaction to it “time of revolution“ The teacher adds that the idea of digital currency “that this risk disappears because it is connected to the institutional and social system” is the Central Bank.
Against this background, the Bank for International Settlements (BIS) interoperability The number of CBDCs, which will lead to a change in infrastructure that many fear. earthquake in the banking system before that risk of runaway deposits from banks Against cryptos, stablecoins and DeFi or CBDCs themselves if they become legal.”
Regardless, Sanz predicted that next year “we will have regulation that regulates the digital euro and wallets (digital wallets) in 2024 or 2025 in response to a technology”. with risks but great potential“.
The possibilities and risks of the Metaverse
The day held at the Faculty of Law ended with a roundtable meeting moderated by the opportunities and threats of the metaverse. Francisco Llopis VanoProfessor of Business Organization at UA and member of the Baes Blockchain Lab. Inigo GastonChief Metaverse Officer en Bit2Me; Placido DomenechCEO of MXND and creator of xHUB.AI/Alicante.AI; Hector Fernandez BuenoComfort Tech Manager en TRL+; Juan Antonio Semper, Head of Business Development at Walcon Virtual; and Carmen Reverend Sempere himself.
Íñigo Gastón, despite his leading role in the Meta project (previously Facebook) there are metaverses with “enormous activity”, for example Decentraland, The Sandbox and Overview.
“Absolute educating people How to manage in this market”, this director emphasized The first cryptocurrency platform in the world recognized by the Bank of Spainadvocates creating incentives for people who believe in decentralization to be willing to declare their wallets.
According to him, the volatility of cryptocurrencies, lack of capital and involvement of institutionsHe said they should “join this technology rather than fight it.” “The metaverse will have more value in merging the real with the virtual,” he stressed. augmented reality It is already offered by platforms like OVR.
Plácido Doménech also applied for his role in the metaverse. artificial intelligenceThis causes him to wonder about “the purpose of all this” given that everything is moving at such a rapid pace. At this point, the expert said, “If we can’t focus on why, others will decide.”
According to him, “in this brutal conflict between the centralized and decentralized world, The future of man is at stake and future generations”.
“If we are not aware of the power of Big Tech, we will be happy slaves”
“What matters is inner reality,” he argues, so no one is manipulating it by taking advantage of this paradigm shift. “If we are not aware the power of big technology We (Google, Apple, Meta, Amazon and Microsoft) will be happy slaves.”
Héctor Fernández’s speech placed a special emphasis on the need to “involve the community” in a change that “overshoots”. According to him, the biggest advantage of cryptocurrencies is, “democratization of capital”despite being aware that its development must go hand in hand with an ecological awareness to protect the planet.
In addition, the TRL+ director is committed to moving forward in the industry. interoperability of cryptocurrencies instead of “everyone is fighting on their own”.
Carmen Pastor, now a member of a crypto consulting law firm, “new trade” that created the new economic universe pyramid scam blur the image of it emerging market.
The teacher says that “an individual in a metadata store is very sensitive” and argues it’s between the different immersive ecosystems out there “asset and data portability“.
Finally, Juan Antonio Sempere Walcon VirtualHeadquartered in Distrito Digital in Ciudad de la Luz, he has been working on the creation and integration of public and corporate metadatabases for four years.
They, in his words, “virtual masons” responsible for providing content to these mediums “so that the real stuff happens”.
“We live too fast and sector needs arrangement‘, says this man from Elche, what the people demand for him “practicality”.
In the discussion after the talk returns, the European metaverse project was discussed, with the agreement that “it must be decentralized to fight against Big Tech” and “technology and law should go hand in hand“.
The final results were summarized as a brainstorming required among regulators, researchers and people from the crypto industry. achieve a balanced financial frameworkthe important thing about the metastore is, open to people and not vice versa, come to add and contribute not an alternate reality, extended.