Blockchain and cryptocurrencies, which were just elective subjects in some of the courses at the Andrés Bello Catholic University, have become mandatory subjects at present.

Despite the economic crisis and difficulties, Venezuelan universities are working hard to improve their systems and keep up with new technologies. This is the case of the announcement, shared by the Cointelegraph medium, that from the October 2021-February 2022 semester,

Among the curricular changes that received approval for some courses of the Andrés Bello Catholic University, business Administration, Common Subjects, and Public Accounting, are now incorporated as mandatory subjects related to Blockchain and cryptocurrencies, which were previously just a simple option.

Regarding the Blockchain subject, from the October 2021-February 2022 school period, it turned from an elective into a mandatory subject in the first semester of the degree.

For its part, the subject related to cryptocurrencies got incorporated as a compulsory subject in the 3rd semester, with the consideration that those students who have passed all of the subjects present in the curriculum until the 2nd semester will be permitted to skip it.

Likewise, the Fintech discipline got incorporated in the 5th semester. It will possess the same consideration as the previous one. The students who already passed all the required subjects up to the 4th semester will receive exoneration from taking it. This information came according to the info brought by the media.

VoteLedger Was a Creation of Students in UCAB

The medium El Ucabista highlighted the achievements that the students themselves had regarding the use of technology. El Ucabista reported that Simón Esperanza and Rigoberto Salas, thesis students from the School of Computer Engineering, developed a Blockchain application to help organize and shield all the stages of a voting process.

The model was a previous project for the student elections of the university. It had the potential to become a proper tool in elections of any kind, indicates the media.

The solution is called VoteLedger, and it is an application with roots in Blockchain technology for the management of electoral records and processes.

The young students studied in detail a couple of subjects together and agreed on their research interests. The students said: After taking the Computer Security subject, they felt more interested in Blockchain and took the pathway of teaming up for the thesis, says the media.

First, they planned to make an app for a donation system, but they considered it better to do it for the elections. They studied five options and decided on Hyperledger Fabric because it is private, open-source, and even brings smart contracts.

Once the students got familiar with the Hyperledger Fabric, they fixed the data capacities to manage identity and authentication. Regarding identity, they would use the identity card number, and for the authentication, there must be a password.

The students passed the application tests to guarantee the proper functioning of the different modules. However, the young students could not achieve the final tests with the Electoral Commission of the university as they did not have its approval.

By: Jenson Nuñez

The experts consider that the current regulations are sufficient for users who want to buy cryptocurrencies. The bills introduced by some Argentine legislators are anti-Bitcoin and anti-user, but others are starting from scratch.

Several specialists recently gave their views on the regulation of crypto assets in Argentina. The experts agree that there is no need for making more regulations but for clarifying the existing ones.

Tax specialist accountant Marcos Zocaro talked about exchanges and those who trade cryptocurrencies. He said that they have problems with banks because of the closure of accounts and other issues. For that reason, he believes that providing security in this regard would be essential for the ecosystem.

Manuel Ponce Peñalva, director of legal affairs at the Buenbit exchange, noted that there are currently regulations on cryptocurrencies. However, the fund codes in the Civil and Commercial Code are those that govern them but not specifically.

However, the expert stated that the current regulation is sufficient for the user wanting to buy cryptocurrencies. As Ponce Peñalva considers Argentina an over-regulated country, he believes it necessary to regulate transcendental principles and issues. These include that no one uses them for illegal activities and that people pay taxes for them if the state so wishes.

Lawyer specialized in FinTech matters Camilo Jorajuría de León agreed with what Ponce Pañalva stated. He sees an opportunity to either ban Bitcoin and isolate people from the global economy or adopt it to allow people to save. The legal adviser favors using the cryptocurrency in the economy without the state punishing those who do it.

The Bills to Regulate Bitcoin Introduced in Argentina

Besides discussing the regulation on cryptocurrencies in Argentina, the experts commented on the current situation. In this regard, Marcos Zocaro said there are two taxes imposed on crypto assets: the Income Tax and the Personal Property Tax.

Ponce Peñalva noted that the authorities do not require exchanges to comply with KYC (Know-Your-Customer) policies. That happens because those platforms do not need to report to the Financial Intelligence Unit (FIU). However, most do so as providers have to avoid the inconvenience of not having a KYC behind them.

Regarding the future, Zocaro believes that the bills introduced by Argentine legislators lack knowledge of the ecosystem. He even considers one of them to build on student work and provide meaningless definitions. After that, the accountant stated those legislators are unaware of the technology they are trying to regulate.

Similarly but more severely, Camilo Jorajuría de León described them as anti-Bitcoin, anti-industry, and anti-user. However, the lawyer added that there are legislators who are starting from scratch. Meanwhile, Ponce Peñalva said the ecosystem has evolved in a very healthy way without needing express regulations.

Finally, the specialists agreed that it is necessary to convene various actors in the ecosystem, including businesspeople, professionals, the NGO Bitcoin Argentina, and academics. Of course, they clarified that it should be a law benevolent to attract investment and reasonable to incorporate smaller exchanges.

By Alexander Salazar

Users can avoid Ponzi schemes if they apply the principles of Bitcoin and blockchain. Daiana Gómez recommends being cautious about altcoins as many of them do not add any value.

Daiana Gómez Banegas, of the NGO Bitcoin Argentina, gave guidelines to prevent fraud with Bitcoin and other cryptocurrencies. She mentioned several types of crypto-asset scams: phishing, transaction scams, and pyramid schemes.

Gómez Banegas said that the pandemic led many to turn to the world of cryptocurrencies. She added that this has caused the data of millions of people data to reach cyberspace. However, some criminals have exploited vulnerabilities there and committed scams.

Identity Impersonation in Bitcoin Operations

Many criminals have breached phone lines or emulated personal Facebook, Twitter, or WhatsApp accounts of users in the community. According to Gómez Banegas, they use those fake accounts to interact with people who want to buy or sell cryptocurrencies.

The expert explained that cybercriminals generally express that they have an urgent need to complete the operations. They usually say they propose those trades because they need cash or promise a more attractive price than the market.

The official of the NGO Bitcoin Argentina recommends ensuring to verify the identity of the counterpart. For example, she suggests requesting a phone or video call to confirm he is who he claims to be.

Scams During a P2P Transaction

Then, Gómez Banegas mentioned the possible scams that can occur during a p2p cash sale transaction.

She recommended that the person go to the meeting place with an installed wallet and not allow the broker to manipulate the cell phone.

The bitcoiner explained that it is possible to recover the password of some wallets through a QR code. She added that the broker could take advantage of that to seize the user’s private keys and steal the funds he has.

In a recent alleged fraud case in Argentina, the criminal used that strategy, said the victim.

Pyramid Cryptocurrency Scams

If someone offers money or huge profits, demands money to enter the system, or asks for referrals to increase profits, he is probably a scammer. In that way, Daiana Gómez presented the scam with Bitcoin and other cryptocurrencies known as pyramid schemes or Ponzi schemes.

According to Wikipedia, those financial schemes are a scam type that attracts investors, with whose funds they pay profits to previous investors. That source adds that victims believe that the profits come from legitimate business activities. They are generally unaware that other investors are the ones providing the funds they receive.

Gómez Banegas recalled that there is no owner, company, or referral system behind Bitcoin. In addition, she highlighted that bitcoiners do not earn a penny because a person enters the Bitcoin network and is a user. She explained that no one loses anything when users decide to withdraw all their money to get cash.

The Bitcoin expert warned that users should be vigilant and talk to those imposing such measures on them. She said that they could also be victims of a scam and do not want to harm them.

By Alexander Salazar

Seventy-five percent of those surveyed believe that the price of cryptocurrencies will continue to increase, while 32% consider that those assets diversify their wallets. Borrowing money from friends or family is a solution that investors have turned to enter the market.

A recent survey by GamblersPick reveals that American investors would not withdraw their cryptocurrencies even at critical times. According to the study, US cryptocurrency investors have put an average of USD 1,707 in such assets.

Thirty-seven percent of the respondents admitted that they would not withdraw their cryptocurrencies even if they needed to cover large bills or payments. Regarding their plans for the next 12 months, investors said they plan to allocate an additional USD 1,645.

American Investors Would Keep their Cryptocurrencies

GamblersPick surveyed 1,000 US cryptocurrency investors, 37% of whom would keep their cryptocurrencies anyway. However, 51% said that not even luxury purchases would tempt them to withdraw their cryptocurrencies.

The vast majority of investors surveyed, 75%, believe that the price of cryptocurrencies will continue to rise in the future. Thirty-two percent consider that those assets serve to diversify their wallets, while twenty-four percent said they would achieve high returns.

A Growing Number of Investors Buy Cryptocurrencies with Credit Cards

The cryptocurrency market offers new and better investment methods as adoption grows and interest becomes massive. The purchase of cryptocurrencies with credit cards is one of the trends that has increased.

The demand for cryptocurrencies among American investors has been growing significantly. For that reason, many of them money from friends or relatives to enter the market. The results show that one in four respondents has bought cryptocurrencies through their credit card.

Twenty-one percent of the 1,000 respondents plan to go into debt to buy cryptocurrencies. Meanwhile, more than 20% have decided to use their bank savings or refinance their home.

Various Groups that Invest in the Cryptocurrency Market

Baby Boomers are the group that has invested the most in the cryptocurrency market, while Generation Z ranks last. The former, born between 1949 and 1968, have borrowed more than USD 4,000 to buy cryptocurrencies.

The Millennials, born between 1981 and 1993, have borrowed almost USD 500 from banks or relatives. With that, those men and women seek to make their way into the cryptocurrency system.

American men own an average of USD 1,940 worth of cryptocurrencies, while women have around USD 1,375. On average, the respondents intend to keep their crypto assets for between six months and five years.

Main Influences that Lead to Investing in Cryptocurrencies

The survey by GamblersPick included questions about the main external influences on investing. The Americans surveyed chose Elon Musk as the most influential. However, they also took into account contributions from investor Warren Buffett and rapper Snoop Dogg.

Finally, many American investors receive information through forums or social networks. They mainly consult the Reddit, Twitter, YouTube, and Facebook platforms to learn how to operate on the market.

By Alexander Salazar