The power of any currency rests on its acceptance capacity, this is the main stone of the structure of any asset, in this case, since its main function is to serve as a means of exchanging products and services in the most effective way, is even more central. It is perhaps one of the oldest systems in the world that came to replace the previous practice of direct exchange of products between people who had that specific intention, for example, there would have to be someone who wanted to sell a rabbit for a certain volume of wheat, and someone with wheat who wanted to buy a rabbit. But if the benefits of using a currency as an instrument of the transaction were evident, it would certainly have been a troubled transition where confidence in a piece of metal was decisive, at a time when civilization was still in the early stages of its social and technological development.
A few thousand years later, the world is faced with a variant of this system, and interestingly with the same challenge of credibility, with cryptocurrencies facing the traditional monetary system as an instrument of transactions. Now, regardless of the analysis that can be made about cryptocurrencies, the important thing at the end of the day is to understand if they will be able to gain a wide range of use in a society that allows them to become the standard of the future, or if on the other hand, it will go through the digitalization of the monetary system, with the creation of digital currencies by the main central banks, where China appears as one of the country’s best positioned to inaugurate this new path. That is the main point, the rest is noise.
