Focused on international cooperation in the economic sphere, the G20 is debating the ways in which the blockchain system can help combat fraud in the digital economy. As the G20’s third Digital Economy Working Group included blockchain as a digital security agenda, the discussion became subject to debate by the group. Given the current scenario, the debate on the digital economy and its security is a very important moment for the blockchain system, since the digital security factor is indispensable for the digital economy to grow to its full potential. This is an idea already being worked on by the Minister of Communications, Juscelino Filho.
The Rise of Blockchain on the Global Agenda
It’s no news that the blockchain system is attracting worldwide attention because of the revolution it has caused in the evolution of digital assets. Much of the growth in the tokenization of assets has only been possible because this technology provides the necessary security for operations to take place, as well as the potential for digital inclusion, points that were highlighted in the G20 debate. All the autonomy that blockchain provides is another reason for the system’s growth on a global scale. The possibility of carrying out financial transactions with an excellent degree of transparency has brought about very important changes that received a lot of attention in the debate.
Details of the G20 Debate
The debate at the G20 will see fruitful exchanges of experience between those involved, with a view to improving security and the proper handling of data through rising technologies. In this way, the role that artificial intelligence and the blockchain system can play in the development of a more secure and efficient digital economy stands out. It’s worth noting that the G20 debate included several important public figures, along with important foreign representatives. Examples include Jeremy West (Head of Digital Security and Protection at the OECD), Liina Areng (Director of the European Union’s cyber security project) and Rajesh Kumar (Head of the Indian delegation to the G20).
Applications of Blockchain Technology for the Digital Economy
More secure and efficient transactions are the best-known applications of Blockchain for the digital economy. Because of these advantages, not a few people are devoting time to developing and finding other applications for the system in various areas of the digital asset world. One example is the Whitelabel platform, which provides the autonomy needed to manage virtual assets efficiently, practically and securely. Our main priority is user control, thus enabling an optimal asset lifecycle.
More practical and secure transactions
Transactions using blockchain technology are much more practical and secure because the data cannot be altered, and transparency is one of the technology’s highlights. It’s no wonder that the G20’s agenda is precisely to address how to use this system to combat fraud. Alongside this, blockchain is also often used to allow international payments to be made without the need to pay high fees. This makes the process much cheaper and more practical due to the speed of the system. Looking at the growth of the token economy, it’s remarkable how VASPs play a key role in this rise. Because they have to follow regulations and are the way in which investors connect with those who offer the digital asset they want, VASPs offer the practicality and security they desire.
decentralization
Being able to decentralize is a very interesting application of blockchain, since with this system, there is no need for so much external interference in carrying out financial operations. As a result, the whole process becomes much simpler and allows different processes to run smoothly without a lot of bureaucracy. Decentralization is one of the most striking features of blockchain, both because it is responsible for its growth and because it combats vulnerability to hacker attacks. Consequently, with the system, it is possible to protect yourself from very high and significant financial losses, as well as preventing data corrosion. All the fluidity that decentralization provides for financial operations is a much sought-after property nowadays. Thus, the Whitelabel platform is the best choice for offering your assets with the security and efficiency you desire, as well as having a structured environment that complies with CVM Instruction 88.
Cryptocurrency creation
Blockchain technology also makes it possible to create cryptocurrencies with great security, such as Bitcoin and Ethereum. As the system was the first to give rise to a cryptocurrency, several others have emerged, either directly or indirectly. Having this understanding is very important for those who want to understand how to be a self-employed investment advisor. Through knowledge of creation, the professional will certainly have a better idea of how the market behaves and the changes that may come with the development of technologies. Another very important piece of knowledge for the token era is to understand about the DREX, after all, the Brazilian real in digital format means acceptance of the tokenization-based economy, which will be a very important step for the growth of digital assets in Brazil.
Blockchain and Global Security
Security is very secure thanks to its state-of-the-art encryption, guaranteeing a great deal of confidence in the communication made. It is also worth mentioning the presence of consensus algorithms responsible for validating and recording transactions with total transparency and without the risk of data corruption. All this care provided by the blockchain is indispensable in today’s context, especially when considering the need for greater cyber security, for example. The system ensures that once a transaction has been recorded once, it cannot be changed or deleted. As well as being of interest to the G20, the security provided by the blockchain system is essential knowledge for those wishing to become investment advisors. Through this understanding, it is possible to act more wisely and choose environments to trade digital assets with greater confidence.
Implications for Future Enforcement Policies
All the discussion at the G20 debate gives the idea that international policies will be the subject of more debate in order to include the advantages that blockchain technology offers. Thus, having environments that respect application policies is essential in the digital economy. To get all this, simply create an account with BLOCKBR and check out all the beneficial scenarios that asset tokenization can offer you.
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The unlocking of the capital market, giving access to new types and structures of investments through tokens, is bringing a universe of opportunities every day. Blockchain technology is an environment of high security and transparency, as well as being a backdrop for the creation of new operating models. To understand which tokenization model and infrastructure you can use in your operations, you just need to understand the opportunities you can take on, whether as a structurer, originator or distributor/investor. Become an investment advisor for digital assets (structured tokens) through BLOCKBR. You can also be an asset structurer and use our entire risk analysis, legal, technological and commercial infrastructure for distribution with Station or, if you prefer, just raise tokens by investing in your operations or RWA assets. Count on us.
