The 10th birthday of Bitcoin, and also the third Starting-up in Niksic entitled “Blockchain in Finance – From Threat to Acceptance” was held at the Innovation Entrepreneurship Center Tehnopolis by Ana Nives Radovic, Director of TO Kotor and a fin-tech analyst who was recently proclaimed the most successful business woman in Montenegro. She explained to the audience that technological development led to the improvement of finances and what challenges in the coming period awaited financial institutions around the world, from state bodies to corporative, private banks.
Ana has been studying blockchain technology for years and is working on projects that are directly related to the so-called cashless payments, or the liquidation of physical cash from payments flows.
According to her, the increased use of electronic money favors economies in terms of suppression of the black market, and all countries that have made this technological and financial transformation have in fact led to the regulation of the financial and, above all, the tax system.
Cashless forms of payment are in fact those who give us the most opportunities in this regard. “Therefore, blockchain technology represents a major, revolutionary financial process in the sense that, as early as it has encountered a number of misunderstandings, it is now becoming more and more popular with those institutions that initially had resistance.”
The primary role of electronic money is precisely what enables new forms of payment and micro-transactions that are crucial and which technology itself can support. “So far, no financial system has supported them, even those who have parts of the currency, such as cents against the euro. Until now, it was not possible to pay at the slightest level in terms of paying something to the value of a thousandth of a cent, although this value, of course, exists on the market. This is the first form, or technology as such, which enables this kind of payment, “explains Radovic.
According to her, in this sense, there is currently no difference between Montenegro, Norway, Japan or the United States, because in no country blockchain is adopted in this way. “The governments of large countries are not those who decide on the adoption of such technologies, but the demands of the market. In Montenegro, we can now see with the public that there is great interest, especially with institutions and companies, and therefore there is a great chance to develop it, “Radovic explains.
Blockchain in finances will cause some changes in the world, such as the appearance of the Internet in the media. “As we used to watch the Internet, so we can now watch the blockhain. When it is in the whole world, when it is generally accepted and when it becomes a platform for the exchange of financial information, it will be unquestioned and there will simply be no isolated factor in the system that will not use it, “she concluded.
