Following their first boom and bust cycle, virtual currencies have staged a remarkable recovery in recent months with the value of Bitcoin, the best-known and most prevalent virtual currency, reaching a new all-time high in December 2020.
This resilience makes it ever harder to ignore the importance of virtual currencies going forward, although their volatility also presages some of the challenges they may pose should they achieve greater adoption.
Yorick de Mombynes will share his views on virtual currencies’ role in the latest industrial revolution the world is currently undergoing, particularly with respect to future exchanges of value, information and property titles. A graduate from the Ecole Nationale d’Administration and a high-ranking French civil servant, Mombynes will moreover discuss European institutions’ reluctance to engage with the rise of virtual currencies –a phenomenon that is to some extent fundamentally at odds with the centralised political and administrative systems that have shaped European societies and economies for centuries. More specifically, he will explore how virtual currencies will impact Europe’s financial system.
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