Australia would like to integrate cryptocurrencies into its financial system

Australia would like to integrate cryptocurrencies into its financial system

Jane Hume, Australia’s minister for the digital economy, recently declared that cryptocurrencies “are not a trend”, adding that “they will not disappear anytime soon”. She compared the current conditions of the cryptocurrency market with those of the early 1990s Internet era. “Don’t be the person in 1995 who said the Internet was only a place for geeks and criminals and would never go mainstream,” she said. Mrs. Hume.
Interestingly, the recent comment from Australian lawmakers came a week after Tony Richards, the Reserve Bank’s chief of payments policy, said global regulators were “skeptical” about the use of digital assets. A recent Senate investigation found that nearly 17% of the Australian population has invested in cryptocurrencies. Decentralized finance (DeFi), as we know, is growing enormously, reducing the need for traditional banks, intermediaries or exchanges. It relies entirely on blockchain technology to complete financial transactions in a decentralized way.

Supporting DeFi developments, Hume said we need to “forge our own path” on blockchain-based decentralized finance (DeFi). The minister added: “Decentralized finance supported by blockchain technology will present incredible opportunities: Australia must not be left behind by fear of the unknown. If the last 20 or 30 years have taught us anything, it is that all innovation begins as a rupture and ends as a household name “.
Australia recently launched some pro-crypto measures. The Australian securities regulator ASIC recently approved spot ETFs for Bitcoin and Ethereum. On the other hand, the Australian parliamentary commission has also established new guidelines to push the use of digital resources.

AUSTRALIA ARTICLE
COMMENT

Also in this case, some politicians approve blockchain technology precisely because it is ANARCHIC and completely alternative to the banking system. As seen in another article, there is a skepticism of creating CBDC or digital currencies of Central Banks. Of course they are incompatible. Unfortunately, up to now, no digital currency has appeared that did without block-chain technology. Now there is. It is our REAL DIGITAL CURRENCY. With the advantages of cryptocurrencies and the advantages of traditional banknotes. By doing without the block-chsin, the enormous energy costs are reduced to ZERO and then with our enormous security it also stands up to the impact of QUANTUM COMPUTERS that will wipe out all encryption systems (except ours) with very fast brute force attacks. . All BITCOIN and other cryptocurrencies emptied into the various wallets (wallets). And if there is a QUANTUM COMPUTER managed by Ethical Hacker (Are there the “good ones” in the world?) Then all the ransomware profits vanish because the hacker instead of paying the ransom calls the QUANTUM COMPUTER service and gets his data back. Science fiction? it’s not the future, it’s a matter of days and then we’ll be there.