Bitcoin, a real currency ?

By Arnaud Campion

Exponential growth

Since Bitcoin's creation in 2009 in response to the subprime crisis, the use of the first criptomonnaie is booming. Most states are watching the emergence of these virtual currencies in perplexity.

The Principle

With cryptography, trust in the monetary system to guarantee the countervalue of a currency is replaced by trust in technology.

All transactions recorded in Bitcoin are kept in an encrypted public registry, this is the blockchain. All the tools used to encrypt the exchanges are freely available and the complexity of the encryption (the mining of the currency) grows with the Bitcoin number in circulation.

The register can be consulted by anyone, making anonymity all relative.

The states in scattered order

While France does not recognize Bitcoin as a capital or source of income, the United States is including it in its tax base, and China, Japan and Estonia are officially considering its implementation.

The major players in e-commerce at the forefront.

Even though amazon is starting to agree to exchange vouchers for Bitcoin, most of the major ecommerce players cannot use Bitcoin on a larger scale due to the lack of a legal framework.

Banks not in a hurry

With the notable exception of the Swiss bank Swissquote, all the big banks take a very negative view of this competition to their core business.

If today it is impossible to place on life insurance contracts in Bitcoin, Wealth Generation is happy to accept Bitcoin as payment of its fees!

For more information. Do not hesitate to contact us.

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