Journey to the land of Ethereum, crypto-currencies and Internet 5.0

For some, Ghost and Bitcoin are the spectre of national economic regulators. For others, the nightmare of information control authorities. Welcome to the land of Ethereum!

So what do virtual currencies (or crypto-currencies), cloud computing and the decentralized Internet we've decided to define in this article under the romantic name of Internet 5.0 have in common?

The legal framework applicable to crypto-currencies requires them to be legally qualified: to do this, we need to distinguish between legal tender (money printed and minted under government authority), electronic money (dematerialized money including debit/credit cards), and finally the new category of digital asset, this last notion corresponding to crypto-currencies.

In recent years, legislators in many countries have turned their attention to this third category, the reason being that cryptocurrency was (is) escaping financial flows controlled, and therefore taxed, by national and international bodies.

As a result of new legislation (since 2019 in particular, for example in France with the January 1 law, but also in Canada and elsewhere), cryptocurrency flows are tending to be regulated, and various players, such as newton.co in Canada, are offering themselves as virtual currency exchanges while being regulated by government bodies (FINTRAC in Newton's case, the Financial Transactions and Reports Analysis Centre of Canada).

Understandably, while this helps to reassure some cryptocurrency users and investors on the one hand, on the other, part of the objective of escaping the volatility of financial flows in traditional economic centres and their control by governments is no longer achieved. This is where virtual currencies such as John McAfee's Ghost come into play - that's the eponymous antivirus - which promises end-to-end anonymous transactions.

A serious investment

As with any business, don't expect to make a fortune in crypto-currencies by investing peanuts! Web entrepreneurs have all heard the argument from customers reluctant to invest real money in their web projects. The idea of a low-cost Internet, with its free online services, has tempted many entrepreneurs to pay the minimum price while hoping for a maximum return. It's a line of reasoning that's out of touch with reality.

The same applies to crypto-currency. Investing less than $22 to $25,000 is possible, of course. But don't expect to make a fortune (anymore)! However, a few hundred dollars will give you the time to familiarize yourself with crypto, to acquire a few notions about how it works, to mine (or stake) a few cents of profit, to manage your wallet or even to rent and configure a virtual server (VPS) for a few dollars a month, which will mine for you without eating up all your bandwidth!

With its share of risks

https://www.theverge.com/2018/3/22/17151430/bankruptcy-mt-gox-liabilities-bitcoin

Whatever crypto enthusiasts may say, these are totally immaterial assets with their share of risks, which are very real. In addition to fluctuations in their value, no one is safe from seeing all or part of their tokens (their virtual coins) vanish into thin air. This may be due to the loss of a password (which is like having a wallet on hand and never being able to open it again), or because the exchange platform you're using suddenly goes bankrupt, suffers a major bug or is hacked (let's not laugh, there have been high-profile cases in the past, such as the more or less lame Cryptoxygen and the defunct MtGox).

Cloud computing

Anyone who has watched MBO's gripping Silicon Valley series will remember the story's central technological theme. It's about a data compression algorithm for lossless video transfers. A technique superior to anything else on the market, which should make the Pied Piper start-up a success and change the world!

Full article here https://tellhandel.blog/voyage-au-pays-dethereum-des-cryptomonnaies-et-de-linternet-5-0/