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; According to Rodríguez, “Currently, the volume of financial movement of cryptocurrencies exceeds 52 million US dollars.”
However, the main challenge facing 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 has decided to act so that small and medium-sized companies can receive payments in digital assets and migration to the digital economy is friendlier for everyone.
“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 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 in the next 2 decades, and most likely it will cease to exist.”
You can learn more about Renato Rodriguez and the projects he leads around this topic on his website www.renatorodriguez.io.
Saurabh Singla, Founder of CaphIQ, is an Indian Entrepreneur, Active Author, Marketing, and Fundraising Consultant. His breakthrough is primarily from generating millions of digital impressions for Entertainment, Blockchain Industry, and various Startups.