This Friday (12), the Federal Senate TV promoted a public debate with the participation of an expert to discuss cryptocurrencies.
The TV Senado Live program was presented by Antônia Márcia Vale and Sara Reis and had the participation of Safiri Felix, director of Transfero.
In his explanation, the Bitcoin enthusiast recalled that the technology emerged from the internet, which brought great power for people to produce and consume in an online environment, simply and cheaply.
Cryptocurrencies allow fair exchange of values over the internet, said TV expert Senate
Thus, cryptocurrencies brought to the environment the potential to exchange values, something that until then did not exist in a decentralized way and without intermediaries.
“Cryptocurrencies are a new layer of the internet for exchanging values digitally.”
The expert recalled that e-commerce purchases before cryptocurrencies depended on trusting a third party, which reproduced the physical scenario in a digital environment. In this way, a buyer of a product would have to trust that the payment service would work, completing the transaction for the seller, recalled Safiri.
With cryptocurrencies, this happens in a decentralized way and using the internet, with these transactions being validated and trusted in an efficient and transparent way.
Some netizens sent the question to the specialist about the ballast of cryptocurrencies, as they had doubts about how this system worked. In his answer, Safiri recalled that Bitcoin uses encryption for its transactions, which are fully auditable, making this the most important backing of the technology.
The expert also mentioned that the Dollar is not backed by gold as many people imagine, as well as the Real, which had many new coins issued just based on the confidence of the population.
Felix recalled that many companies emerged on the market with the promise of fixed market earnings, which are pyramids using the Bitcoin image and people should pay attention to such schemes.
Bitcoin is different from Digital Real
Safiri Felix explained that Bitcoin is not a currency similar to the digital Real, which is being studied by the Central Bank of Brazil. According to him, the BCB’s currency will be digital, but fully centralized and with monetary rules following the guidelines of the Brazilian authorities.
Bitcoin is similar to a foreign currency, however, without a central issuing body behind the decentralized currency.
Safiri recalled that he understands that Bitcoin is not an investment, as there is no interest on the purchase of the currency, which has market fluctuations that can offer profits and losses.
Asked whether Bitcoin can now be used in trade exchanges, the analyst said yes, it is enough for the buyer and seller to adjust the terms and carry out the transaction, made with the aid of digital wallets.
TV Senate conducted polls on social networks with population
During a poll promoted by TV Senado on its social networks, asking if the population knew how cryptocurrencies worked, 65% said they did not know about the system.
Another question asked was whether people have already invested in any cryptocurrency, with 78% of respondents saying no, showing that this is still a new subject in Brazil.
Asked in a poll if they trust cryptocurrencies, 74% of the poll participants said they did not.
It is worth remembering that several bills are being processed in the Federal Senate to regulate cryptocurrencies in Brazil. Last October, a senator even filed another bill to fight the emergence of financial pyramids with cryptocurrencies, which will be evaluated by the National Congress.