The digital economy has evolved since its inception ten years ago. Digital assets function as money and move stably within the financial market.
In addition, there are digital wallets that allow cryptocurrencies to be stored in a secure and decentralized way, which has prompted a large number of people to migrate to this new economy especially in the face of the current health and economic crisis because these transactions are direct—person to person—and don’t require physical contact.
Renato Rodríguez is an expert businessman in economics and mathematics who has stood out for his work as a promoter of crypto-economy worldwide; with more than 15 years of experience in the business sector and for 10 years dedicated to crypto-economics and the creation of technological systems for digital products. According to Rodríguez, “Currently, the volume of financial movement of cryptocurrencies exceeds 52 million US dollars.”
However, the main challenge facing the digital economy is that there are no necessary measures by governments to account for all this floating money, which has an impact on the numbers of any country’s economy. “The problem with the digital product is that it isn’t registered. It isn’t known who spends or who buys, ” he said. For this reason, Rodríguez believes that one of the challenges that go hand in hand with government implementations to record the entry of digital assets are updates and payment-receipt technology.
For this reason, Rodríguez has decided to act so that small and medium-sized company can receive payments in digital assets, and migration to the digital economy is friendlier for everyone especially at this critical moment that has changed the lifestyle of millions of people. The project is in a trial period and will be ready by December of this year.
“The objective is to provide a tool for companies so that they can receive payments with crypto and automatically change it to the local currency. Then record the income and pay the necessary or required tax depending on the country,” he added. The purpose of this project is to provide an opportunity for business growth and allow more and more people to benefit from the digital economy.
It is important to remember that the evolution of digital economy has transformed money as we know it in addition to reducing barriers such as lack of transparency, complicated procedures, and centralization. Rodríguez concludes that “Crypto economy is taking an important place in the current system. Predictions indicate that paper money won’t be necessary for the next 2 decades, and most likely it will cease to exist.