France, a welcome country for cryptocurrencies and the blockchain? the 20 theses of Adan

Reporter – Cryptocurrencies are no longer just a phenomenon. At the end of 2021, the market capitalization peak will reach $3 trillion. This evolution towards digital remains an unknown factor hindering its adoption by the general public. However, there is certain evidence: opportunities in employment, finance, artistic development or even security and traceability, blockchain technologies are positive and sustainable.

l’Adan-KPMG studyproduced in France, supports this idea of ​​a Cryptographic Web 3 gaining ground on Web 2, which is sometimes too outdated. At the national level, some crypto companies are examples of successful development. Sometimes unicorn, sometimes simple racehorse, their role in the expansion of the crypto universe is essential. The Association for the Development of Digital Assets (Adan) in France and Europe has understood this well. Aware of her role in this crazy race, she proposes, in a… unprecedented political contexta Adan’s Manifesto to the Candidates for the 2022 Presidential Election † There, 20 proposals are discussed, all centered around one objective, the association’s nervous system: “Unifying the digital asset industry and fostering its development in the service of a new digital economy”† Murmuring in a weeping room, let’s listen to what the Adan has to offer us.

Sovereignty in Web 3 built around:

Recognition of the potential of blockchain and cryptocurrencies

In the preamble, the Adan explains that we are on our way to a cashless society : a society where we reduce cash in favor of using our debit and other credit cards.
We then understand that cryptocurrencies go beyond this type of payment by doing away with the notion of intermediary. Opportunity for citizensto even germinate the idea of ​​this mutation seems delicate.

Making the economic value of Web 3 accessible to all would then require recognition from the blockchain sector, requiring a national strategy.

“Explicitly identify the blockchain and cryptoassets as technologies of the future and define a national acceleration strategy for committed innovation. †

Proposal 1

A positive European strategy for cryptocurrencies

The Adan demonstrates the important need to modern infrastructure to welcome French Fintech companies. The mastery of technology would then be our sovereignty digitally and financially.

“Stimulating the emergence of crypto assets from private and European initiatives backed by the euro alongside a central bank digital euro. †

proposal 2

Then it becomes important to become aware of what is happening in other countries. Many are those who adopt blockchain technologies in their own way by adapting them (we think of the digital Yuan and China, for example). This adaptation to blockchain technology makes it possible to amplify the weight of currencies.

Faced with these countries accelerating Bitcoin, Europe is slowing it down. MiCa, regulations, central banks and other institutions are flying in his feathers. Between protection and innovation it becomes difficult to define the contours of the digital action of France and Europe.

“Anticipate issues related to the emergence of digital assets in the regulation of hegemonic platforms. †

Proposal 3

coin token bitcoin banknote money 50 euro flag european union

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Creating the conditions of the future for cryptocurrencies in France

The Administration Curbs Cryptocurrencies in France

The traditional finance, sometimes too slow, hinders the rapid growth of companies in the sector. The French government does not keep pace with innovation cycles.

“Create windows dedicated to financing technologies blockchain and crypto assets for public investors. †

Proposal 4

Venture capital funds and investors then become cautious and do not take up the adventure.

Create partnerships between banks and digital asset custody providers so that professional funds can fund businesses by investing in their tokens.

Proposalnot 5

While French companies’ growth has been held back by a reluctance or even an aversion to cryptos, some foreign giants can move at will with regulation going their way. This phenomenon is called the spoil gives

“Implement tax mechanisms that allow investors to realize capital gains in crypto assets to reinvest them in the real economy, especially in corporate financing. †

Proposal 6

What fate does the French regulations reserve for Bitcoin and cryptocurrencies?

Free Digital Asset Allocation Scheme

Encouraging work and education in cryptos then becomes an essential point of the Manifesto from Adam. It becomes important that employees understand the potential to, for example, be able to hold and benefit from the tokens of the company they work for financial opportunity† There are incentives for both the company and the employee.

Also, sometimes tokens are not issued or owned by employees, but by employees. However, it is necessary to pay attention to the employee’s relationship with the employee so that there is no abuse. So it is certainly necessary to define a clear tax system thatfree token allocation

“Put the regime of the free granting of digital assets by companies to the regime of the free granting of shares. †

Proposal 7

Enabling a sustainable cryptocurrency policy

Environmental issues are essential. In addition to the need to give miners more access to excess energy (Proposal 14), according to ADAN, the impetus for the sustainable development of cryptocurrencies must be accompanied by aid.

“Stimulate the development of a European secure communication solution that enables the transfer of information between the PSANs according to community standards. †

Theorem 15

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Cybercrime and Identity

Cybercrime

For Adan, cryptoassets in France are a solution to fight money laundering† In 2020, Europol estimated the global level of money laundering at 2129 billion euros, ie 3% of global GDP (only 130 billion at European level). chain analysis explained in 2021 that crypto crime accounts for $14 billion in fraudulent transactions. In 2019, the fraudulent operation was 3.37% and in 2020 0.69%. Once the clichés are destroyed, cryptocurrencies may even have some anti-money laundering benefits.

Indeed, still according to Adan, blockchain technology makes it possible to trace transactions in order to find out the address of the criminal. However, most crypto assets are based on anonymity or pseudonymity. However, a computer’s IP address can make it possible to identify users. So crypto assets lead researchers instead of protecting cyber criminals.

a bitcoin (BTC) hacker

Identity and KYC

During travel ruleADAN’s concerns relate to the homogenization of structures in terms of identity verification and know-your-customer (KYC).

“Set up clear rules, established in coordination between the Prudential Control and Resolution Authority (ACPR) and the professional banking federations, to define the expectations associated with crypto asset players in terms of customer knowledge (KYC). †

Theorem 8

“Harmonize the anti-money laundering and anti-terrorist financing (LCB-FT) rules at European level to improve their effectiveness; in particular by promoting a Know Your Customer (KYC) procedure obligation from a transaction of one euro in all affiliated jurisdictions. †

Theorem 9

Accelerating solutions around video recognition as a digital identifier is also an important point for ADAN. Just as the association emphasizes the lack of support from financial players subject to traditional funding, emphasizing the need to boost this dynamism at European level. (proposals 10 to 13)

Preparing for the economy of the future: training

Faced with the evidence of lack of learning, Adan proposes to fill this gap. She deplores the self-taughtness of French developers and proposes to improve blockchain learning. So insist on developing new university courses that are essential to prepare for tomorrow’s economy.

“Facilitate the opening of new initial courses on innovative topics such as new technologies, digital finance and IT, or integrate them as modules into existing courses. †

Theorem 18

For older children it would be:improve access to training so everyone can learn blockchain.

“Ease access for public and private decision-makers to ongoing training on new technologies and innovative use cases. †

Proposition 19

Adan, therefore, as a good crypto diplomat, proposes to develop cryptocurrencies in France and promote the development of French companies in such a way as to promote their growth on a European scale.

Some will think cryptos shouldn’t beget involved in politicslet alone be an accomplice to anyone transfer of confidential informationwhich goes against the principles of Satoshi Nakamoto, founder of Bitcoin. Others will see it as an opportunity and another media to participate in the development of tomorrow’s global infrastructure. Observing the news, Adan’s move is isolated and noticed only by a perhaps lone crypto community. However, it is worth highlighting this approach and seeing in it the progress of a crypto France that mumbles and is structured.

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