A new payment method competes with coins, banknotes, checks.

E-currency exchange site. The term “electronic money” is new and does not yet have a clear definition. Indeed, the advent of computerization of money management has opened up new opportunities for adulthood. Money management tends to be dematerialized, and we see more and more technologies that “electronically” use this currency. Simply put, a currency can be called electronic when it is stored on electronic media that are themselves used through electronic devices (Monéo card, Bitcoin …).

This new payment method competes with purchases of coins, banknotes, checks and bank cards. There are several ways to use digital currencies. One of the easiest is to store fiduciary currency in electronic form (as offered by the Monéo system or gift cards). Man Y decided to keep a certain amount on the card. After the transfer is made, the withdrawn amount is no longer on the bank account of the individual, but on the card. Then Mr. Y can use this card to pay for things in places where it is allowed.

E-currency exchange script. Another type of digital currency has appeared that is trying to revolutionize the monetary system: the so-called “virtual” currencies. The most successful today, without a shadow of a doubt, is Bitcoin. Bitcoin, fully released on the Internet, is real currency, such as American dollars and European euros. Bitcoin will be further analyzed later in this synthesis. The invention of new currencies, completely “virtual” on the Internet, can satisfy the need for the simplicity of online payments. We will analyze this technology, which has become significant in order to compete with in-store purchases.

Money measurement is important in a project embodied in cryptocurrencies. But this is not exclusive. Ambitions are also, and, perhaps, primarily technological and economic. Around the activities of cryptocurrencies, a real system of production and support is developing, in which France has many assets. The blockchain itself offers many perspectives. The ability to store and transfer value into virtual, divisible and interchangeable units (“tokens”) can change the landscape of finance, trade and production. In the ongoing dissemination of initiatives and projects, it is important to identify opportunities and measure risks.

Innovations develop in the form of successive waves, with phases of acceleration, when the dissemination of ideas causes the mobilization of initiatives, energy and financing. This is such a phase that DLT and blockchain technology is going through today, at least in part due to the interest and enthusiasm caused by cryptocurrencies. They use public blockchains with universal access and, therefore, highly developed consensus procedures. On the contrary, many “non-monetary” applications in finance and the real economy use private blockchains “with permission”, that is, closed networks with a limited number of participants. These private blockchains are built around completely different architectures and have several advantages: Very scanty approval procedures with much lower verification restrictions, as participants are selected and trust each other. Movements are cheaper and faster. Technology can then compete in performance with centralized systems!

Flexible privacy management: for individual data, it is often established by law or regulation. Access rules should be developed accordingly. It is possible that people who have the right to “write” on the blockchain – or other distributed registers, that is, those who are allowed to change and update it, are different from those who are allowed to read it. The technology, which should be developed and improved, already offers great adaptation flexibility! Provide a basis for management and collective action between partners who want to collaborate, but none of them want to lead others. Blockchain can be used to support on-site projects. For these blockchains, or distributed, closed registers, we see today the development of several promising areas of applications.

Key provisions of the “structure of use”: Regarding the structure of using virtual currencies, without prejudice to the conclusions of discussions and reflections, at the national and supranational levels, regarding the legal qualifications of virtual currencies, proposals can be formulated with the aim of limiting: anonymity of users of virtual money, in particular, by introducing, on the one hand, the obligation to identify when opening an account in virtual currency, and on the other hand, the obligation to declare accounts in virtual currency and the availability of tools to know and track these accounts.