United Nations: “Cryptocurrency a New Frontier in Digital Finance”

The United Nations (UN) in its year-end report on the global economy calls cryptocurrency a “new frontier” in electronic and digital finance.

According to the UN, cryptocurrency and blockchain technology have the potential to create new and revolutionized business models that are devoid of old, redundant financial flaws or processes hence, they increase efficiency.

In its report, the UN highlights the following advantages and potential of cryptocurrencies, blockchain and distributed ledger technology. It reads:

“Cryptocurrencies represent a new frontier in digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, Bitcoin being a well known example can keep track of digital transactions. They enable value to be exchanged and can give rise to new business models which would otherwise require significant regulatory and institutional commitments.”

On Innovativeness and Trust over Traditional Finance Systems

The report states: “The innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation. The incentives align with the interest of participants towards contributing to the system’s security. In contrast, the traditional financial system relies on a complex armature of reporting, oversight and implicit or explicit guarantees, ultimately backed by the reputation of a central authority. As such, the blockchain technology presents the possibility – a first in the field of finance that trust in institutions backed by government can be replaced by trust in computer code.

UN Crypto and Blockchain Proposed Use Cases

The United Nations report further outlined some probable crypto/blockchain use cases linked to the organizations goals; for example, a crypto token called Climatecoin is being considered as a basis for creating a global market for carbon emissions. The token will allow peer-to-peer exchange of carbon credits and a direct connection with the internet of things. It would be possible for devices to calculate their own carbon emissions and purchase carbon credits to offset those emissions.

There are also proposals on using blockchain technology as a distributed ledger of real world information for property registration, personal identity, provenance of food and medicines, among many other types of data. The UN and the World identity Network are exploring ways to register the identities of children on a blockchain as a means of combating child trafficking.

In all, this latest report titled “World Economic and Social Survey 2018” further stretches the positive stance of the UN on digital assets/cryptocurrency. The organization continues to show interest in the sector haven been involved in joint projects with start-ups and recognized firms within the crypto industry; notably IOTA and XRP token developers (Ripple).

Do you think the UN opinion will drive further adoption and activity in the industry? Share your thoughts in the comments?

With the increasing global interest in cryptocurrencies and blockchain technology, millennials are positioning themselves to take advantage of this emerging and potential gain industry. To get started, proceed to BUY your crypto (Bitcoin) at www.Nairaex.com, its 100% safe and reliable.

Written By

CryptoEnthusiast, CryptoEducator, Angel Investor, Writing Pro and Techie

79
Leave a Reply

avatar
79 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
73 Comment authors
ChrisappomMichaeltonMichaeltonMichaeltonMichaelton Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
MarcosChins
Guest
MarcosChins

40 mg tadalafil: http://tadalafilonline20.com/ generic tadalafil 40 mg

MichaelCer
Guest
MichaelCer

meds without a doctor prescription overseas pharmacies shipping to usa

MichaelCer
Guest
MichaelCer

generic pills without a doctor prescription buy cheap prescription drugs online

MichaelCer
Guest
MichaelCer

india pharmacy drugs cheap generic drugs from india

MichaelCer
Guest
MichaelCer

prescription drugs without a doctor india pharmacy drugs

JeffreySwene
Guest
JeffreySwene

viagra online usa viagra cost
buy viagra online usa

JeffreySwene
Guest
JeffreySwene

buy generic 100mg viagra online п»їviagra pills
generic viagra walmart

JeffreySwene
Guest
JeffreySwene

buying viagra online buy viagra online usa
how much is viagra

JeffreySwene
Guest
JeffreySwene

order viagra online best place to buy viagra online
viagra discount

JeffreySwene
Guest
JeffreySwene

generic viagra walmart viagra without a doctor prescription usa
viagra amazon

StanleyUriff
Guest
StanleyUriff

finasteride without doctor propecia for hair loss

StanleyUriff
Guest
StanleyUriff

paxil depression paxil online

Thomaslar
Guest
Thomaslar

how much is viagra https://viagrapills100.com/ viagra 100mg price

Thomaslar
Guest
Thomaslar

buy real viagra online https://viagrapills100.com/ where to buy viagra online

Richardneeva
Guest
Richardneeva

viagra without a doctor prescription usa cheap viagra online
viagra 100mg price

ElmerKarry
Guest
ElmerKarry

ed pills without a doctor prescription cheap ed pills
ed pills without a doctor prescription

ElmerKarry
Guest
ElmerKarry

buy ed pills from canada ed symptoms
ed vacuum pumps

Jasonsar
Guest
Jasonsar

https://zithromaxst.com/# zithromax z-pak price without insurance

Jasonsar
Guest
Jasonsar

https://zithromaxst.com/# zithromax z-pak

Jasonsar
Guest
Jasonsar

https://zithromaxst.com/# zithromax over the counter canada

ScottJam
Guest
ScottJam

http://zithromaxproff.com/# zithromax capsules price
zithromax over the counter

ScottJam
Guest
ScottJam

http://zithromaxproff.com/# how to get zithromax
how to get zithromax online

ScottJam
Guest
ScottJam

buy cipro: noroxin capsules
cleocin generic

ScottJam
Guest
ScottJam

roxithromycin for sale: order sumycin online
erythromycin generic

BillySkAva
Guest
BillySkAva

erythromycin price: buy minocin online
order noroxin online

ScottJam
Guest
ScottJam

generic ampicillin: order vantin online
order suprax online

Stevenhearf
Guest
Stevenhearf

generic pills india: india pharmacy order medications online from india

Michaelbew
Guest
Michaelbew

prescriptions from india: buy medication online from india cheap online pharmacies from india

Stevenhearf
Guest
Stevenhearf

cheap online pharmacies from india: india pharmacies online india pharmacy drugs

Michaelbew
Guest
Michaelbew

india pharmacy mail order: india pharmacies shipping to usa online medications from india

BillyNep
Guest
BillyNep

best erectile dysfunction pills: cialis pills cialis pills

RobertrhypE
Guest
RobertrhypE

order erectile dysfunction pills online: https://edpillsonline24.com/# erectile dysfunction pills

BillyNep
Guest
BillyNep

male erectile pills: order erectile dysfunction pills online kamagra pills

Danilorot
Guest

dating personals
dating sites for over 50

RobertrhypE
Guest
RobertrhypE

ed pills: https://edpillsonline24.com/# viagra pills

Jamestah
Guest
Jamestah

viagra price comparison buying viagra online without prescription viagra online without prescription

TimothyJoutt
Guest

local girla near me personals
free personals

Jamestah
Guest
Jamestah

is there a generic for viagra viagra without a doctor prescription canada buy viagra online without prescription

TimothyJoutt
Guest
Jamestah
Guest
Jamestah

https://clomidst.com/# where can i buy clomid

Claudcog
Guest
Claudcog

where to buy clomid: buy clomid – clomid 2020

Jamestah
Guest
Jamestah

https://diflucanst.com/# diflucan 150mg tab

Claudcog
Guest
Claudcog

diflucan for sale online: diflucan without a doctor prescription – diflucan pill price

Claudcog
Guest
Claudcog

order doxycycline 100mg without prescription: doxycycline generic – doxycycline generic

Jamestah
Guest
Jamestah

http://clomidst.com/# online clomid

Claudcog
Guest
Claudcog

clomid: clomiphene citrate – where can i buy clomiphene

Jamestah
Guest
Jamestah

https://doxycyclinest.com/# odering doxycycline

RobertTiz
Guest
RobertTiz

furosemide 100 mg: buy furosemide online – lasix 100mg

RobertTiz
Guest
RobertTiz

paxil weight loss: buy paxil – paxil 20mg

RobertTiz
Guest
RobertTiz

metformin buy: buy metformin online – 143 metformin