Technology has caused unimaginable changes in recent years. We have been witnesses and direct beneficiaries; in recent decades, the digital world has covered many areas such as industrial, economic, educational, Crypto Assets, and many more.
Crypto assets
One of these achievements provided by technology is crypto actives, cryptocurrencies being the most outstanding, which have achieved a significant boom in the economy, giving possibilities of success and financial development to all those who have believed and decided to invest and trust in them.
Crypto assets are virtual assets that originate in cryptography and have specific market values, exchanging for goods and services.
Uses of crypto assets
Cryptoactives have managed to establish themselves and gain a foothold in the virtual market, giving rise to many operations or trading performances using auto-trading like this Auto-Bot, such as commercial exchanges, purchases, sales, payments, investments, savings, and many more.
The possibility of using crypto assets in economic activities related to banking entities, such as mortgages and loans, is currently being studied.
The mortgage market can open its doors to technology through a bill known as the digital transformation law, proposed by the Popular Party of Spain, the most critical opponent of the Spanish government.
This bill was submitted to trial in Congress and proposes that cryptocurrencies, mainly bitcoin, become part of the processes of the Spanish economy. Specifically, they seek that can use cryptos to acquire houses by mortgages, life insurance, and payments and compensation.
In the same way, the real estate sector, through investment funds, can acquire groups of mortgages paid with cryptocurrencies to banking entities.
What is the purpose of this law?
With this bill, the party would seek to implement blockchain technology within a legal framework, as with crypto assets.
Thanks to this project, they can be implemented in entities and areas of all kinds, public or private, thus regulating that crypto-assets implement in lousy business and fraud such as drug trafficking, terrorism, and money laundering.
The creation of a national council of crypto actives (CNC) has been proposed, which will be in charge of carrying out all the studies related to the use of blockchain and cryptocurrencies, at the same time who will control its implementation in the public administration.
The entities that will form part of this council will be the General Directorate of Finance, the National Securities Market Commission, and the Central Bank of Spain.
This initiative does intend to provide further support to cryptocurrencies as a future payment tool in the traditional market, always maintaining the margins of legality that this represents, managing to benefit all parties involved while generating profitability and profits.
Conclusion
Cryptocurrencies are gradually gaining ground, and it is no secret to anyone that in the future, they will be the commercial currencies in all areas of the economy, supplanting the current fiduciary currencies.
This new opportunity for mortgage payments with crypto assets gives them more credibility and trust. In addition, they are making it easier and more accessible to carry out banking procedures with people who manage their capital in digital currencies, which will bring excellent benefits for both parties.
Cryptocurrencies will reach the digitization of all businesses globally because it has shown that using cryptocurrencies is very profitable in revaluation and inflation.
The union of crypto assets, mainly bitcoin with mortgages, gives it more strength, achieving greater demand and growth in the crypto market, benefiting all those within this promising and futuristic economic boom.
If you are not within the technology, you are obsolete since currently, everything is handled and carried out through systems, platforms, applications, and other digital media that streamline our processes.
Thanks to technological advances today, we enjoy many advantages, and one of the most important is the creation and development of cryptocurrencies, an innovative and very beneficial invention for humanity.
Cryptocurrencies are the future of the economy. Decentralization and financial freedom are two aspects that have to pursue for a long time in managing personal finances, thanks to blockchain technology and its advantages.
It is remarkable to see the growing form that cryptocurrencies have in aspects of daily life; you can already go to the supermarket and pay with cryptocurrencies and soon go and request financing in a bank to acquire your own home.
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