Like the blockchain, freedom despite having different contexts and applications according to the need and environment in which it is involved is unique in its kind.
Taking this into account, would it be possible to talk about freedom and cryptocurrencies in the same paragraph?
The answer is yes, especially when we neglect purely economic aspects, such as price, and approach cryptocurrencies from a broader concept, value. It is precisely from this approach that we appreciate the new decentralized monetary system as a free alternative, which provides autonomy and economic opportunities.
Cryptocurrencies drive an ecosystem in which businesses can interact with their customers regardless of borders and accept agile payments online. The technology that supports cryptocurrencies "the Blockchain" gives users confidence and, therefore, the businesses that have hosted this payment system are developed in an environment of greater financial freedom.
The same applies to individuals, who not only go to cryptocurrencies because it is an innovative mode of payment but also because it can be a more effective and secure alternative than fiat money. The great reception of cryptocurrencies in countries like Venezuela is an example, as they turn out to be a financial refuge from the threat of an authoritarian government that increasingly has greater authority over the lives and money of its citizens, whether by taxes, regulations or hyperinflation.
The real value generated by digital currencies, therefore, is not quantified or measured in euros, dollars or pounds sterling, but in how much global financial freedom and economic congruence they provide us.
Is it feasible for the digital monetary system to remain free?
In a society with highly digitized environments and aimed at simplifying processes and decentralization, sooner or later, technology will reach all fronts. Therefore, users will have the possibility to maintain a life (and even their identity) anonymous, free and connected.
Traditional digital environments already offer us constant updating and accessibility. For example, the vast majority of social networks are available to anyone who has a device with an internet connection. In addition, digital systems facilitate processes through precise algorithms, as in the case of marketing that acquires information on the tastes and lifestyle of the users of a network to reach the appropriate population segment.
The financial model proposed by blockchain technology goes one step further: it is enough to have connection and cryptocurrencies and voila!
While banks already use digital media within the traditional financial system, such as online banking and mobile applications, there are still barriers for everyone to access these services. On the other hand, almost anyone can be part of the cryptocurrency community: it is not necessary to present a series of documents in a bank to open an account, which involves transfer, meet certain economic requirements and deliver personal information to third parties.
The latter aspects, together with access to adequate information, are key to financial inclusion.
Cryptocurrencies also facilitate access to credit through peer networks (P2P), where trust and reputation of users prevail. It is important to emphasize that, in this case, credit applicants will still have to provide their information to build trust in investors. However, it is the investors who qualify the cause of the applicants and not the banks, so it is possible that more projects and ventures have the possibility of being financed.
Therefore, cryptocurrencies are a viable alternative for more and more people to access the financial world. In addition, they are positioning themselves in a new, more efficient and free financial system that not only eliminates private sector intermediaries, but also challenges the regulatory role of governments that often hinders processes more.
