CRYPTOCURRENCIES – THE FUTURE OF MONEY?
Cryptocurrencies polarise – are they the future of money or a dangerous bubble? We explore the shifting global financial architecture. Who are the profiteers and victims, supporters and critics of digital currencies?
Bitcoin has developed into a global digital currency that is challenging the existing financial system. The international popularity and rapid increase in the value of Bitcoin have encouraged many to join the sweepstakes. The president of El Salvador has even made crypto his country’s official currency. Most governments, however, have adopted a strong stance against cryptocurrencies that are not regulated by states. The European Central Bank, for example, is predicting Bitcoin's imminent demise. At the same time, however, the ECB recognises the need for a digital currency in a global internet world. It is likely we will soon see the introduction of the digital euro, which can be used as a means of payment via a smartphone and works like a cryptocurrency. But how exactly does a cryptocurrency work? And what are its risks and benefits? This documentary shows how cryptocurrencies are currently causing a shift in the global financial architecture and introduces the profiteers and victims, and the supporters and critics of the new digital currencies.