At the first Technology Evening organized by Espaitec, a set of business meetings to present technological innovations and innovative projects, Santos Gutiérrez, Product Manager of Bit2Me, explained basic concepts and legal and fiscal aspects to take into account when implementing cryptocurrencies in a business
Espaitec celebrated this Tuesday the first Technological Evening, a novel format where innovative projects are presented through "technological pills" accompanied by InnoBar, the Park's beer networking activity. According to Juan A. Bertolin, director of Espaitec, the objective of the Technological Evening is "to share with the business community of Castellón what the technological and innovative developments that are currently being developed to generate a space for discussion among attendees and facilitate the creation of synergies.
During the first Technological Late has participated as a speaker Santos Gutiérrez, Product Manager of Bit2Me, the first cryptocurrency platform recognized by the Bank of Spain after obtaining registration as a provider of virtual currency exchange services for fiat currency and custody of electronic wallets. In this sense, the purpose of the session was to explain how integrate cryptocurrencies into a company, the advantages it can bring and legal and tax aspects to take into account when incorporating them into an organization.
Basic concepts
To know the basis of operation of virtual currencies, Santos Gutiérrez has explained what the blockchain, that is, a public ledger that collects the history of all verified transactions to avoid double spending and forgery by cryptographically recording each transaction. On the other hand, it has also defined what is wallet, a piece of software or hardware that allows storing cryptocurrencies and tokens, as well as other concepts such as cryptography, block, networks, mining and hash, among others.
Advantages and disadvantages
During the session the speaker also announced what the advantages of a company are when implementing the cryptocurrencies, in its financial system such as, for example, the to maximise security and your enjoyment., since these are encrypted operations and, due to the level of cryptocurrency traceability, companies can know the origin of a fund. Other benefits to take into account are the speed of transactions due to the low verification time, which in some cases reaches 0,004 seconds, and the few commissions that involve buying and selling operations.
On the other hand, Santos Gutiérrez has addressed legal and fiscal aspects to take into account such as the volatility of some cryptocurrencies, since their market value will depend on the context; For this reason, he has explained what the stablecoins, cryptocurrencies whose volatility is minimal since their value is stable. The speaker has also pointed out the incipient regulation of the market, due to its recent appearance, and the responsibility that comes with the use of cryptocurrencies, especially when the user has self-custody, so an advanced level of knowledge is required.
To end the day, the Bit2Me Product Manager explained step by step to the attendees how to make the first cryptocurrency purchase through the aplicación móvil of your company.
InnoBar
At the end of the “technological pill” on how to integrate cryptocurrencies into a company, the first InnoBar 2022 for people who have attended the session in person, the activity of networking beer of Espaitec that arises for share knowledge, experiences and create synergies.
This initiative has the support of the Ministry of Innovation, Universities, Science and Digital Society of the Generalitat Valenciana and its objective is to promote innovative ideas and present technological innovations among the companies linked to Espaitec, the university community of the Universitat Jaume I and the business community of the province of Castellón.
