This is another episode of coinnewsextra virtual panel discussion on Blockchain and cryptocurrency. The guest speaker invited to this discussion is Roman Berginc, he is the Chief Executive Officer of ALL ABOUT CRYPTO.
The Topic of this discussion is “THE FUTURE OF DIGITAL ASSETS”
WHAT ARE DIGITAL ASSETS?
People think digital assets more or less in the form of digital currencies, thinking digital assets are all about cryptocurrencies only. According to the guest speaker “digital assets it is really quite wider, because it is actually everything that have some value, basically I think what digital assets should be our DATA, every kind of data stored digitally can be in some manner called digital asset, If it has value to an individual.
ARE DIGITAL ASSETS ONLY CRYPTOCURRENCY?
According to the guest speaker, he said “NO, cryptocurrencies are mainly the simplest representation of digital assets. Basically, cryptocurrencies are part of digital assets and they are the most commonly used.
HOW WOULD YOU SAY THAT DIGITAL ASSETS ARE PERFORMING IN THIS PANDEMIC OUTBREAK?
Answering to this question the speaker said” when the pandemic started, not only digital assets, but also stocks and everything having market value went down, only gold picked up as the fastest before other digital assets also picked up. If we are to look into the prices of cryptocurrencies, we can say we are approximately where we are before the pandemic outbreak. I don’t think it has much effect on digital currencies, if not other digital assets, and as we can see, people are at home and have started to think how the world would change if this situation persist for a longer time, and this goes in a way of bigger adoption of digital assets in any form.
HOW HAVE THE REGULATIONS AFFECTED CRYPTOCURRENCIES, BECAUSE THERE ARE LOT OF SKEPTICISM, DUE TO LACK OF CLARITY AND REGULATIONS?
Cryptocurrencies still suffer due to lack of regulations in a way, according to Roman “we know that basically bitcoin was not made to be regulated, but if we are connected to some entity where we want to get out of crypto and use it as a fiat money, we always need to be connected to some entity that is regulated at least to feel secured about our assets, because if there would be any exchange (either individual or company) from crypto to fiat money, there has to be some regulations to follow. On the other hand, people also lack clarity what cryptocurrencies are or how they are tax and this is the reason many companies face a lot of difficulties when using digital currencies, because they don’t know what will happen to their businesses if they are stuck to crypto. It is not good to have too much regulations, because there will be a lot of resistance, so there should be a balance in regulations.”
HOW DO YOU THINK CBDCs WILL PERFORM IN THE NEAREST FUTURE?
Answering to the question, he said “I believe CBDCs have a very good future, because we all know loca/ traditional banking will not hold for a long time. They are the possible solution to our banking sector, and they should work in parallel with cryptocurrencies, they should also implement a policy whereby they can store cryptocurrencies, CBDCs and classical fiats, but I think banking will not be possible in the future without CBDCs.”
WHAT ARE THE BENEFITS OF CBDCs?
According to the Roman, he said “ they are very good for the economy of countries itself, because normal banking is now a little old aged, it takes too much time and it’s too expensive , I think creating CBDCs is the right policy to replace normal banking. It is a big step forward for a lot of countries and businesses and it will help push forward their economy.”
Click the link below to watch the video..