In my previous article about AI and recent technological advancements in Neos Kosmos, I promised to cover one of the most volatile and full of excitement, albeit full of pitfalls for the novice realm called Cryptocurrencies.

Cryptocurrency and blockchain technology have been making waves around the globe in recent years. It has enabled new ways of doing business and revolutionised the global financial landscape. Here we try like a neophyte to explore the magical world of blockchain and discover what makes it so special? In this article, we will unlock the blockchain spell and explore the wonders of Crypto Wonderland.

Unlocking the Blockchain Spell

Blockchain is the underlying technology that enables cryptocurrency and other digital assets to run. It is a distributed ledger system that allows for secure and transparent transactions. It is decentralised and immutable, meaning that it is not controlled by any one entity and cannot be changed or altered. This makes it a great choice for digital asset management, as it ensures that all transactions remain secure and private.

The blockchain spell is known for its ability to create smart contracts. Smart contracts are digital agreements that are stored on the blockchain and can be used to automate transactions and other processes. They are secure, transparent, and immutable (not changing over time or unable to be changed), making them ideal for managing digital assets.

The blockchain spell also enables the creation of digital tokens. These tokens are used to represent value in the form of digital assets, such as cryptocurrency. They can also be used to represent ownership in a company, to pay for goods and services, and to facilitate transactions.

The blockchain spell is a powerful tool that allows for secure and transparent transactions. It has revolutionised the way people do business and is changing the way we think about digital asset management.

Entering Crypto Wonderland

Crypto Wonderland is the world of digital assets, where cryptocurrencies and other digital assets are traded and exchanged. In Crypto Wonderland, you can explore the magical realm of blockchain technology and discover all the possibilities that it offers.

In Crypto Wonderland, you can buy and sell cryptocurrencies, trade digital assets, and explore new investment opportunities. You can also use cryptocurrencies to pay for goods and services in a range of countries, or even to send money to friends and family.

Crypto Wonderland also offers a variety of tools and services to help you manage your digital assets. You can use wallets to store and manage your cryptocurrencies, and exchanges to trade them. You can also use trading bots (programs that make decisions about when and how to trade in digital markets) to automate your trades, and smart contracts to automate transactions.

Crypto Wonderland is a magical place where you can discover the wonders of blockchain. It’s a place where you can buy and sell cryptocurrencies, trade digital assets, and take part in the digital asset revolution. Unlocking the blockchain spell is the first step to entering Crypto Wonderland and discovering the magical possibilities that it offers.

Around the Globe

Most countries in the world have started to come to terms with cryptocurrencies and here we would briefly examine a couple that are of most concern to us.

The European Union has taken a major step forward on regulating cryptocurrencies, with the European Council approving comprehensive Markets in Crypto-Assets (MiCA) regulation. Greece, as part of EU, joined the European Blockchain Partnership (EBP) in 2018 and so did most other countries of the region . In fact, during the memorandum and recession years Greek interest in cryptocurrencies increased by more than 163% .

Australian regulation of cryptocurrencies is lagging much of the developed world, as the government still signals that it intends to fully regulate DAM (the Digital Asset Market) which is largely unregulated. “Under current regulations, crypto assets that are or form part of an investment product or exchange traded product require an Australian financial services licence (AFSL) or an exemption” .

What about the banks? Well, banks being banks must be confident they are able to identify and act on all relevant risks, including those entities that are not in sanctions and watchlists. Manual searches and keyword-based approaches are slow; hence they have resorted to AI. AI-driven solutions enable suspicious entities and activities to be identified in real time. You can onboard faster, cut your costs, and reduce your risk exposure. They use something like chatGPT technology making use of a type of AI that is called a Language Model. A Language Model is a type of software (group of computer programs) that is designed to understand and use human languages.

But let us leave something to discuss next time and suffice to say here that cryptocurrency investing is not for the fainthearted, not for the novice, not for the unexplored. When I was speaking to a friend of mine recently, who has no experience in technology but has been “burned” by investing in the stock market years ago, he said to me: “It is all part of a conspiracy scheme”. I personally don’t agree with that statement but leave it to you to explore more and decide. My personal dilemma is in this question, are we facing the beginning of the end of human driven conventional industrial technologies?