The post The Gensler controversy and the path to digital asset harmony appeared on BitcoinEthereumNews.com.

After severe boom and bust phases, how can we gauge the importance of blockchain-based assets? Will they interface with daily life or remain on the margins of regulatory containment? Above all else, one must notice that digital assets represent the next evolutionary step brought about by the internet. The World Wide Web decentralized information sharing, rendering gatekeepers into redundant friction points. By the same token, blockchain technology decentralized financial assets or is in the process of doing so. Potential of Blockchain and Digital Assets From time immemorial, the core problem of finance centered around methods to keep an account of wealth. Either governments or banks have been responsible for maintaining the record of who owns what assets and who transfers those assets to whom. This methodology became entrenched in the absence of alternatives, making money the subject of manipulation, eroding the potential to save, and forcing consumers to look for alternative mechanisms to save their purchasing power. One of these corrosive manifestations is setting the inflation target at 2% without having the ability to explain the reasoning behind it coherently. Wow. This clip is amazing. Powell is asked “why is 2% the inflation target?” His answer sounds like it was written by Kamala Harris. pic.twitter.com/lTgi6455En — Chris Blec (@ChrisBlec) August 10, 2023 Bitcoin broke through this historical barrier as a product of a publicly distributed ledger – blockchain. The combination of a distributed ledger and a peer-to-peer verification/mining network made Bitcoin the vanguard of a truly decentralized, permissionless financial system. Everything else that followed was built on this concept. At the core, BTC token is a smart contract, interfacing with other smart contracts, their authenticity secured by the blockchain network. In turn, any existing logic can be tokenized and secured on other blockchains using similar authentication techniques: Lending and borrowing:…

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Filed under: News - @ October 14, 2023 1:08 pm