Hello Monaco magazine Winter 2018 - issue HM02 - Page 59

© depositphotos . com source www . libertex . org
to punch a gap in the international financial markets where such currencies the dollar and Euro are transacted in the trillions . But , Slava Taran , founder of the online trading platform www . libertex . org , believes Blockchain is the future of world currency . He said : « Blockchain technology is the greatest experiment of our times , comparable to the invention of the Internet . It is supported by large American corporations and investors , with full government support . One of its main goals is to create a global alternative payment and settlement system that could naturally replace most payment systems for third world countries , Africa to start with . And can then go around the world , attacking and replacing national currencies . Very few new world countries can afford to have their national currency and an independent central bank . If Bitcoin was not supported at the highest level in the US , it would have been strangled by regulators back in its embryonic stage .»
New crypto on the block
Though Bitcoin continues to make waves , since 2015 there has been a new challenger already sprinting at a fast pace out of the starting blocks . Etherium ( or Ether ) was created by 19-yearold Vitalik Buterin from Toronto . Think of Etherium as Bitcoin with attitude — not afraid to do somersaults , not afraid to use the full potential of Block chain technology . Instead of only handling accounts and transactions , Ethereum makes it easy to create smart contracts , telling your digital money what to do and when to do it . Let ’ s assume we are running a VIP Sports Tours Business and we think that if Roger Federer wins one more Grand Slam , he might retire at Wimbledon at the height of his career as the best player of all time . So we want to invest in and design VIP tours around that once in a lifetime opportunity ( if it happens !). Wimbledon agrees to sell us Centre Court seats for the Final for Bitcoin if we buy 200 or more seats . A smart contract can be programmed to execute with the following parameters : — If our VIP Tennis Tours Business has a 15 Bitcoin balance in its « wallet », and — if today is February 1 , 2018 — if Roger Federer has won the2018 Australian Open Tennis Grand Slam — if Roger Federer is officially listed as entering the draw for the Wimbledon Tennis Grand Slam — then buy 200 tickets for a total of 10 Bitcoin for the « best seats » for the Wimbledon final And so we have a smart contract without lawyers or bankers , and is automatically executed . 200 digitised tickets for 10 Bitcoin if Federer wins the Australian Open and enters the draw for Wimbledon . Ethereum , with its flexibility to operate smart contracts , is a rising star of the crypto currency and block chain world . Closing in on the original digital currency Bitcoin , it has swiftly become the second most valuable of the new payment methods . The value of Ether has increased more than 3000 per cent in the past year , and one Ether is now worth almost 480 USD .
To crypto , or not to crypto
We now find ourselves in an era where multiple currencies coexist . Today , there are more than a thousand crypto currencies , each designed for a specific purpose .
Hello Monaco – Winter 2018 / 57
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