▲ First, look at the terms.
Until now, cryptocurrencies, virtual currencies, virtual currencies, digital assets, and virtual assets have been used both inside and outside the industry.
However, as the amendment bill of the Specific Financial Information Act (Special Act) passed on March 5, last year, there were some objections. ‘Gaboxsan’Changes are underway to unify the terms. Therefore, in this article, it will be expressed as a virtual asset.
▲ It is difficult to target virtual asset writing readers, but the interest is the most.
Since last year, I have written about 60 columns including the Korean economy.
The most difficult area is virtual assets. Rather, columns in the field of international politics and diplomacy such as world order have a lot of relevant books and information, and they can be arranged from my point of view regardless of the level of readership.
Interestingly, the interest of readers is several times more in the field of virtual assets than in an article with a lot of effort.
Written by Dae-Seok Park / The virtual asset ecosystem and the institutional market ecosystem are creating a new’intermediate ecosystem’ in search of their strengths.
There are still many negative readers or even interested in virtual assets.
On the other hand, in the real world, players (businesses) or those who are active as investors want information that is directly related to business or profits. In the field of virtual assets, the level of readership and interests vary greatly.
In addition, the virtual asset ecosystem is no different from its infancy, so there are few orthodox theories or proven theories. Each person’s voice is louder than the spring and autumn times of the whole country.
Someone who knows predicts that bitcoin will rise to more than several billion won in the future, but others predict that bitcoin will disappear or the price will plummet.
What is clear is that we are on the way to the digital world, such as virtual assets.
▲ The reality is that money is concentrated in the virtual asset market.
It has been a long time since the market capitalization of a single bitcoin is close to 1.300 trillion won, and the daily transaction amount of Korean virtual assets is 17 trillion won, exceeding the KOSPI transaction amount. It is a reality where money is rushing to the virtual asset market.
Money is more than any theory in the world It is said to be honest (not truth). Money is like water that flows safely to a profitable place. There is a clear reason that more money is rushing to the virtual asset market than the KOSPI.
In the virtual asset ecosystem, assets such as banks, securities, currency, art and real estate from the existing institutional ecosystem are entering one after another. Strictly speaking, the virtual asset ecosystem and the existing institutional ecosystem are looking for a common denominator.
In the era of the Fourth Industrial Revolution and the digital economy, 2021 will be an important year in which both ecosystems share advantages and advance and evolve.
Advantages of Bitcoin The reliability and scarcity of transactionsPlus Bitcoin’s supremacy is challenged by NFT (non-replaceable tokens) linked to the value of real assets and filecoins that reward IPFS (Inter Planetary File System) participants in accordance with the cause of the big data era.
In the future, I predict that the virtual asset market will be at the center of the trend of Bitcoin’s price direction, NFT, and Filecoin for the time being.
▲ Minerva Owl, the reality that money is rushing into the virtual asset market
Minerva, the goddess of wisdom in Roman mythology. The name’Minerva’ itself seems to be derived from the word’thought, wisdom’. He was known as a god in all kinds of fields that he thought needed wisdom, such as medicine and poetry. After fusion with Greek mythology, it was identified with Athena. / Source tree wiki
Now, it is natural that if you ignore or don’t know virtual assets, you will fall behind in earning or managing money. Academia, law and institutions are always busy keeping up with leading ideas, technologies, products, and markets.
One bitcoin that has no entity, no possession, and no legal justice, 1 BTC is currently trading at around 70 million won on the coin exchange without taking a break for 24 hours, 365 days. I can’t believe it, but it’s real.
Hegel, a 19th century German philosopher, wrote in the preface to his book, Philosophy of Law. ‘Minerva’s owl spreads its wings only after dusk‘Left a famous saying.
Like the Minerva’s Owl, who is against wisdom, philosophy, law, institution, or scholarship, spreads its wings at night after the day passes. Academics does not predict the future, but it means that the meaning becomes clear only after a historical phenomenon that has already been achieved has passed.
Looking back on history, the general public’s perception cannot keep up with the pace of change made by those who preceded it.
Human desire moves as fast as the pace of change, but it becomes possible only after a lot of time has passed for recognizing what it means and explaining it academically.
So many problems that arise in human affairs arise from the difference in the speed of desire and awareness.
It is always difficult for the general public and the existing vested interests to keep up with the changes and adapt to the changes in the history of anti-conformity.
However, even if you cannot create a new world with foresight, you must detect change and follow the flow flexibly to survive. It is survival of the fittest.
I can say that it’s the top financial business Securitized finance business As a financial expert with experience, he has worked in the field of business or as a professional columnist for several years in the digital banking market, such as virtual assets that traditional financial experts in the existing institutional sectors do not see.
▲ Conservative investors in existing institutions are also competitive in the virtual asset market.
The virtual asset market is still full of problems. Many of the coins traded on the actual coin exchange are virtual images. However, there are also many advantages.
Business in the cryptocurrency market has a large risk in proportion, but high returns that cannot be imagined in the institutional world are actually realized. And in a short period of time, the win or loss is decided.
Paradoxically, it is easy to commercialize new ideas due to the lack of systems and laws (almost none), and global projects can be easily promoted across national borders. The biggest advantage is that the breadth and depth of related information to be managed is less than that of real estate investment such as traditional institutional businesses and stocks.
Existing institutional ecosystem investment is complex.
Stock and real estate investment and business include changes in systems and related tax and laws, new technologies, competitors, changes in the real trading market such as petroleum and raw materials, real estate and finance domestic and overseas indicators, global events such as war, political and international order changes, etc. Seriously, we need to collect and analyze information about everything that is happening on Earth.
In addition, the results of such information collection and analysis must be relevance and countermeasures to their business and investments, and judged. How painful is it? However, there is a limit to the ability to collect and judge accurate information for individuals to judge.
Moreover, the collected information is often intentionally inflated or manipulated, and the information that needs to be known is hidden.
It is difficult for the general public to distinguish between the vested powers of each country, big tech that monopolizes technology and platforms, big money, big capitalist, and big media, which is a huge journalist. There is a lot of conflicting house prices and stock information without going far.
On the other hand, the virtual asset market is more volatile than the existing institutional market. The amount and depth of the relevant information is not very wide or deep.
Therefore, it is time for conservative asset prices in the existing institutions and investors to be competitive even if they look at the virtual asset market with interest.
I believe that in the future readers You can see the’forest’ of virtual assets and digital banking and look at the’tree’ We will endeavor to provide good information through professional knowledge and continuous research.
Hankyung.com columnist Daeseok Park