Digital economy has evolved since its inception ten years ago. Digital assets function like money and move in a stable manner 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, since the 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.
He has a history of more than 15 years of experience in the business sector and for 10 years he has been dedicated to crypto-economics and the creation of technological systems for digital products.
According to Rodríguez, “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 doesn’t register. 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 or new payment receipt technology.
As a consequence, Rodríguez has decided to create something so that small and medium-sized companies can receive payments in digital assets and so the migration to the digital economy is more friendly for everyone especially at this critical moment that has changed the lifestyle of millions of persons. The project is in a trial period and would 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 take advantage of the digital economy.
It’s important to remember that the evolution of the 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 the “crypto-economy is taking an important place in the current economy. The future indicates that paper money will no longer be necessary and in the next 2 decades will most likely cease to exist.”