È un tema tecnico ma cruciale, al centro dei colloqui fra il gestore fondi di investimento più grande al mondo, Blackrock, e l’ente di controllo del mercato finanziario USA, la SEC (Stock Exchange Commission) in relazione all’approvazione da parte di quest’ultima del fondo ETF in Bitcoin.
On November 27, the European Council approved the controversial European Data Act, with an extensive focus on smart contracts. These contracts are a feature of second-generation advanced blockchains but are not featured in Bitcoin. They cannot be stopped once activated, causing potential issues with coding errors or cyberattacks. The Data Act introduces the ability to mutually terminate a smart contract, termed a ‘kill switch’, which addresses these issues. This termination must be agreed upon by both parties and follows regular rules of civil and consumer protection law.
On November 27th, the European Council approved the European Data Act, which focuses on harmonizing rules regarding user data generated from a product or service. This regulation highlights the role of smart contracts in blockchains, which are transactions conditional on some event, known for their uninterrupted execution. However, the Act introduces the concept of interrupting a smart contract by mutual agreement, or a ‘kill switch’. This provides a safeguard against potential mishaps from coding errors or cyber attacks. Specific provisions regarding kill switches are elaborated on in Article 36.
La nuova regolamentazione europea, il Data Act, , dedica ampio spazio al tema degli smart contract.
In ambito blockchain, gli smart contract sono transazioni condizionate al verificarsi di un qualche evento
FOMO, or Fear Of Missing Out, contributes to impulse investments in markets like the cryptocurrency one, which are risky yet potentially rewarding. Individuals moved by this fear risk more than necessary to avoid the specter of lost opportunity. This phenomenon is not exclusive to cryptocurrency; it’s previously been seen with the stock market. While Bitcoin has grown significantly, it remains unstable, with high losses associated amidst gains. Investing in cryptocurrency also carries an ideological element, which may not be beneficial. Regular investing over time would temper these risky decisions.
La FOMO, o Fear of Missing Out, è una forza trainante che spinge le persone a investire in mercati in crescita come quelli delle criptovalute, spesso per paura di rimpianti o di essere lasciati indietro finanziariamente.
The relationship between Bitcoin and gold is debated, with arguments for both positive and negative correlation. Evidence of positive correlation was seen in 2020 when both asset values surged due to economic uncertainty caused by COVID-19. Negative correlation was demonstrated in 2018 when Bitcoin’s prices crashed while gold remained stable. Reasons for potential correlation include their roles as safe haven assets, limited supply, and global trade presence. However, Bitcoin’s volatility and close ties to technology stocks suggest a lack of correlation. This complex relationship is likely to fluctuate with changing factors.
Una ardita parafrasi in chiave crypto del pensiero di Niall Ferguson ne “La Piazza e la Torre”, la rilettura dell’intera storia del mondo occidentale in chiave di lotta fra le reti di relazioni orizzontali (la Piazza) e la gerarchia delle istituzioni (la Torre).
This Italian article discusses the potential of Argentina becoming a crypto-friendly destination under newly elected President Milei. Despite facing disastrous economic consequences, including a 142% inflation rate due to the dollarization of the economy, Argentina might consider adoption of cryptocurrencies such as Bitcoin. This shift does not entail making Bitcoin a legal tender as El Salvador did, but simply liberalizing its use. However, changes in cryptocurrency use by a larger nation like Argentina could dramatically alter the global scenario.
The recently elected President of Argentina, Milei, is considering opening the country to Bitcoin and other cryptocurrencies. Despite the country’s disastrous inflation rate of 142% per year, cryptocurrency is seen as a more practical option than dollarization, which would require plentiful dollars and policy control. The eventual adoption of Bitcoin as a legal tender could drastically change the country’s economic situation.
Despite no official announcement from Argentina about making Bitcoin a legal tender, a portion of the population supports the idea, according to a Statista survey. Potential benefits include countering high inflation, promoting financial inclusion, and boosting economic growth. However, concerns about Bitcoin’s volatility, regulatory difficulties, and security issues could pose risks.
The newly-elected President of Argentina, Milei, is reportedly considering adopting cryptocurrency, including Bitcoin. As hyperinflation plagues the nation, the dollarization of the economy has been a challenging process. Meanwhile, cryptocurrency offers a more feasible solution requiring only the legalization of its use, falling in line with Milei’s libertarian ideologies. The move could significantly change the perception of cryptocurrency, as Argentina is a major player compared to smaller countries like El Salvador that have previously adopted similar practices. However, the gap between electoral promises and practicable reality remains a barrier.
Prof. Vincenzo Candila of the University of Salerno conducted a study, “Multivariate Analysis of Cryptocurrencies,” which applied rigorous statistical methodologies to analyze cryptocurrency trends over 1671 days (6/2016-12/2021). The study, focusing on seven popular cryptocurrencies, revealed that cryptocurrency prices usually move in a coordinated manner, similar to trends in traditional stock markets. However, the study disclosed Bitcoin’s unique position as a price maker. The study concludes that changes in Bitcoin’s price largely influence the movement of other cryptocurrencies, or ‘altcoins’.
Prof. Vincenzo Candila of the University of Salerno conducted a study, “Multivariate Analysis of Cryptocurrencies,” which applied rigorous statistical methodologies to analyze cryptocurrency trends over 1671 days (6/2016-12/2021). The study, focusing on seven popular cryptocurrencies, revealed that cryptocurrency prices usually move in a coordinated manner, similar to trends in traditional stock markets. However, the study disclosed Bitcoin’s unique position as a price maker. The study concludes that changes in Bitcoin’s price largely influence the movement of other cryptocurrencies, or ‘altcoins’.
Prof. Vincenzo Candila from the University of Salerno conducted a multivariate statistical study titled “Multivariate Analysis of Cryptocurrencies”, examining the correlation of cryptocurrency market trends over 1671 days (6/2016-12/2021) for 7 popular cryptocurrencies. The study found that cryptocurrencies typically rise and fall in unison, though there are exceptions during special events. Interestingly, Bitcoin was identified as the price maker, with other cryptocurrencies (altcoins) adjusting to its movements. The market follows similar patterns to the traditional stock market, but unlike the latter, cryptocurrencies operate non-stop worldwide with no officially indexed stops.
While Artificial Intelligence (AI) risks are discussed widely, the potential threats stemming from quantum computing, particularly to cryptographic systems, are less acknowledged. Quantum computers (QCs) can solve problems faster, posing a significant threat to cryptography that underpins current security systems, including blockchain technologies and cryptocurrencies. Although current blockchain algorithms are resistant to QCs, it’s uncertain whether they’ll withstand future, more advanced generations. Future-proof solutions are being developed, but blockchain adaptation speed is a challenge.
While Artificial Intelligence (AI) risks are discussed widely, the potential threats stemming from quantum computing, particularly to cryptographic systems, are less acknowledged. Quantum computers (QCs) can solve problems faster, posing a significant threat to cryptography that underpins current security systems, including blockchain technologies and cryptocurrencies. Although current blockchain algorithms are resistant to QCs, it’s uncertain whether they’ll withstand future, more advanced generations. Future-proof solutions are being developed, but blockchain adaptation speed is a challenge.
Smart contracts, one of blockchain technology’s intriguing aspects, face two formidable challenges – technological and legal. The technological issue pertains to the immutability of blockchain and the complexity of managing unforeseen events. The legal issue revolves around GDPR compliance, contract formulation, and inter-party consensus. While not implemented in Bitcoin, Ethereum supports the most extensive ecosystem for smart contracts. Smart contracts, a continually evolving and innovative subject, potentially face problems if not coded correctly.
The post discusses the challenges that come with smart contracts in blockchain technology. The technology of Ethereum offers an extensive ecosystem of smart contracts, unlike Bitcoin. However, there are issues, both technological and legal, related to blockchain’s immutability and the legal aspects of smart contracts, including GDPR compatibility and contract formation. These issues are continuously evolving, a topic explored in a 2021 European Commission document.
The post discusses the challenges that come with smart contracts in blockchain technology. The technology of Ethereum offers an extensive ecosystem of smart contracts, unlike Bitcoin. However, there are issues, both technological and legal, related to blockchain’s immutability and the legal aspects of smart contracts, including GDPR compatibility and contract formation. These issues are continuously evolving, a topic explored in a 2021 European Commission document.
Nella recente disputa legale tra la Stock Exchange Commission (SEC) e Ripple Labs, il giudice A.L. Torres si è pronunciato parzialmente a favore di Ripple Labs. Questa sentenza solleva XRP come garanzia finanziaria quando viene venduta a soggetti privati, ma non a istituzioni finanziarie. Allo stesso tempo, BlackRock, il più grande gestore patrimoniale a livello mondiale, ha ripresentato alla SEC la documentazione errata di un ETF Bitcoin. Inoltre, Ripple ha visto una maggiore adozione in seguito alla sentenza, con importanti istituzioni finanziarie come AMEX che hanno abbracciato la blockchain di Ripple per le transazioni globali. Il giudizio pendente della SEC sull’ETF Bitcoin e sull’XRP influenzerebbe ampiamente il futuro delle criptovalute.
In the recent legal tussle between the Stock Exchange Commission (SEC) and Ripple Labs, Judge A.L. Torres ruled out partially in favor of Ripple Labs. This judgement relieves XRP as a financial security when sold to private entities, but not to financial institutions. Concurrently, BlackRock, the largest asset manager worldwide, refiled the erroneous documentation of a Bitcoin ETF to the SEC. Furthermore, Ripple saw increased adoption following the ruling, with notable financial institutions like AMEX embracing Ripple’s blockchain for global transactions. The pending judgement from the SEC on the Bitcoin ETF and XRP would largely influence the future of cryptocurrencies.
A metà luglio passato c’è stato il primo grado di giudizio nella lunga querelle legale fra l’organo di controllo della borsa americana, la SEC, e la Ripple Labs inc., emittente della criptovaluta XRP.
Le criptovalute riusciranno ad uscire dalla gabbia del sistema finanziario ed affermarsi come mezzo di pagamento?
In the crypto community there is a messianic expectation of the next bull run. But if you look at the fundamentals, slow but progressive growth over time is more likely.
