eNews 
Cryptos remain highly controversial in today’s turbulent market environment. While some view them as revolutionary technology, others worry they’re nothing more than a passing trend that will quickly fade away.
No matter your opinion on cryptocurrency, it is evident that governments around the globe have taken notice. They want to regulate it in order to safeguard consumers and businesses alike.
1. Decentralization
Decentralization is the movement of power away from centralized institutions to local ones. This powerful concept has the potential to revolutionize our world.
Decentralized systems often maintain independence and self-regulation without the use of corruptible authority, leaving them less vulnerable to external events such as hacking attacks.
Decentralized systems also boast censorship-resistance. This implies that no single governing authority has the power to determine who may or may not engage in certain actions within a network.
Decentralization is not a panacea, however. It can lead to reduced economies of scale, the loss of control over scarce resources, the formation of dysfunctional local elites and mistrust between public and private sectors. Ultimately, however, decentralization cannot provide all the answers.
But it can also help alleviate service delivery bottlenecks, allowing national ministries to reach more people and provide greater political representation for diverse groups in decision-making processes. Furthermore, top managers in central ministries can be freed of “routine” tasks so they can devote more attention to policymaking.
Decentralization can be seen as a “transformative” change, altering how people view their world. It transfers power away from centralized institutions to those on the periphery, giving them power over things which might otherwise remain beyond reach of established institutions.
The future of cryptocurrency rests on how technology advances and its effects on society. Therefore, it’s essential to comprehend both the advantages and drawbacks of decentralization before making an informed decision about how best to utilize this emerging technology.
2. Transparency
As cryptocurrencies become a more widely used financial asset class, transparency is becoming an essential requirement. This issue has become a primary concern for investors and will likely remain at the heart of what drives this technology’s future success.
Transparency is an essential concept in business and government, taken from the medieval Latin word for “transparentia,” meaning “shining through.” Transparency allows employees to view what their employers are up to and how they’re held accountable. Furthermore, transparency helps reduce corruption and bribery as well as keep businesses honest.
Blockchain technologies present an excellent opportunity for enhancing transparency by making it simpler for organizations to share authentic information with one another. This is particularly true of permissioned blockchains, which enable private transactions that distribute hashed or encrypted data across all nodes but then require signatures from a specific set of nodes in order for the change to become valid.
On permissionless blockchains, an approach that promotes transparency can be taken by requiring signatures from selected parties on smart contracts or transactions that update the state of the blockchain. Unfortunately, this approach comes at the cost of increased efficiency and may present some privacy risks for those involved in the process.
Transparency is paramount for the future of cryptocurrency, but that doesn’t mean it has to be mandated on all users and stakeholders. Unfortunately, current reporting and disclosure practices leave much to be desired and may lead consumers to become confused about their investments and the financial position of entities involved in the process.
3. Privacy
Privacy has become more crucial as more people turn towards cryptocurrency. It should not be violated by governments or companies, and it also serves to shield individuals from unwanted influence and tyranny.
Privacy is an integral part of an individual’s identity, and it should be respected so they can live their lives without worry. Furthermore, protecting people’s privacy serves the larger good of society at large.
This right is fundamental for a free society. It safeguards individuals against unwanted influence and tyranny, and allows them to communicate with others in ways which challenge the status quo.
The word ‘privacy’ comes from the Latin phrase ‘proprio suavum,’ meaning that people have the right to keep their personal information private. This principle of law provides citizens with protection against illegal or unethical actions.
One of the best ways to safeguard your privacy is by avoiding online services that could be utilized for illegal or unethical activities. This is especially pertinent if you possess sensitive or valuable data that needs to remain confidential.
For instance, when buying or selling a car online, it is essential that you have the appropriate security measures in place to safeguard your personal information. This could include safeguarding passwords and making sure not to give away financial details to unreliable parties.
Cryptocurrencies will become more and more dependent on privacy as they gain prominence. It provides people with a unique chance to take control of their digital identity and stay safe online from malicious websites and hackers.
4. Security
Security is an intricate concept encompassing people, organizations and societal processes. It involves multiple layers of protection designed to deter, detect, delay and deny unauthorized intrusions. Security plays an integral role in any business venture – particularly when dealing with cryptocurrency.
Cryptocurrencies and their related products and services present major cybersecurity risks. These vulnerabilities range from currency manipulation and identity theft to web-based espionage, all of which could cause financial loss or severe harm to individuals.
Cryptocurrencies can provide enterprises with some security benefits, but it’s essential to be aware of the potential risks. This includes teaching users and businesses how to protect themselves from scams and fraudulence, and using trusted firms and exchanges.
One of the foremost concerns is whether cryptocurrencies should be treated as securities and subject to regulation. This issue has been debated for years, with various governments taking differing approaches in regards to how best to regulate it.
In the United States, regulators are trying to resolve this conflict. The Securities and Exchange Commission (SEC) is a traditional securities agency with strong interests in safeguarding investors; on the other hand, the Commodity Futures Trading Commission (CFTC) operates under an Agriculture Department banner and takes a more relaxed approach.
However, the SEC does have the authority to fine or prosecute crypto companies. This could put tremendous pressure on the SEC to adopt regulations for crypto businesses.
Cryptocurrencies are still in their early stages and it could take years before a regulatory framework is put in place. But policymakers and crypto stakeholders must collaborate in order to guarantee the industry remains secure.
5. Accessibility
Accessibility is the ability of all users to utilize a product or service. It plays an integral role in user experience design, but differs from usability in that it specifically targets people with disabilities.
For a website to be accessible, it must provide the information needed by users in an accessible format that can be accessed with one of their senses (sight, hearing or touch). This includes providing text that can be read by screen readers or electronic braille devices as well as magnified viewing through screen readers or electronic braille devices.
Web accessibility is an integral component of web design, enabling people with various physical, sensory, cognitive and situational disabilities to engage with the internet. Many government entities and other businesses have policies requiring web pages to comply with WCAG standards.
World Wide Web Consortium (WCAG) developed WCAG, a set of guidelines to enhance the usability of the Web for those with disabilities. These standards take advantage of recent technologies and design strategies that separate content from formatting, encouraging more dynamic web page design models.
Designers and developers have access to a wealth of resources for creating accessible websites. These include tools from the Web Accessibility Initiative (WAI), education, testing/evaluation, project management services and policy documents.
Designing for accessibility offers several advantages, such as increased user engagement, superior search engine optimization (SEO), reduced maintenance expenses and wider audience reach. It’s an important element of web development best practices – the Web Accessibility Perspectives video providing examples of why accessibility is crucial to providing a successful online experience for everyone.
