Bitcoin as a new form of payment

Bitcoin is one of the most popular cryptocurrencies worldwide. Javier Pastor Moreno, participates in the Digital Transformation Module of C1B3RWall Academy 2021, with as part of which he is going to deliver a keynote lecture under the title “Bitcoin: a new monetary and financial system emerging from the Internet”.

Javier has a degree in Marketing and Business Management. He joined the Bit2me project in 2018, amid the expansion of the cryptocurrency and bitcoin sector, to raise awareness and disseminate this technology, as well as facilitate its adoption. Since then, he has been leading the commercial and training department. His lecture will set current Bitcoin events in context and he will discuss their socio-economic implications as well as describe the global regulatory framework.

Impact of cryptocurrencies on the economy

Cryptocurrencies have managed to form a decentralized system that does not depend on a third-party entity (such as a central bank or a government) to be able to store and stockpile money, as well as transfer it to any part of the world through the internet and operate autonomously. Today there are more than 10,000 cryptocurrencies, and all have different characteristics, although bitcoin as of today has approximately 40% of the total cryptocurrency market capitalization.

In 2014, the Court of Justice of the European Union qualified Bitcoin as a means of payment, but in 2015 it rectified and considered it a means of exchange. Thus, as of today, in Spain it is considered a means of exchange and not a means of payment, so unlike euros, it is not considered a legal tender. Bitcoin, despite suffering numerous attacks, has never been hacked, since it is a distributed network that is updated every 10 minutes.

 You can read the full article on News-365.

If you would like to learn about this topic and other issues related to cryptocurrencies, Bitcoin, its storage and security, don’t miss the opportunity to enrol in C1b3rWall Academy 2021 for free.

Juan Manuel Corchado

Full Professor in Computer Science and Artificial Intelligence, Department of Computer Science and Automation, University of Salamanca, Spain.


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