Cryptomorphs are useless for business capital, says economist

As an economist, the recent position of the Ministry of Economy is not correct on digital currencies.

Entrepreneur holding a Bitcoin cryptomycapital
Entrepreneur holding a Bitcoin

According to Brazilian economist Sérgio Eskenazi, cryptomyces are useless to make up the capital stock of companies. This is because, in Sergio’s view, cryptomaps are not assets.

Since December 1, as announced by Livecoins, cryptomaps have Immediate Bitcoin been accepted as part of the capital stock of companies. The release came from the Ministry of the Economy, when it was questioned by the São Paulo State Trade Board.

In this way, it is clear that companies that are registering could place as movable assets. This information was shared with the public through Circular Letter SEI No. 4081/2020/ME.

Despite the promising news for Bitcoin fans in Brazil, not everyone is satisfied with the possibility.

„Cryptomoks are useless to make up the capital stock of companies,“ said economist
Economist Sérgio Eskenazi, in a text to Estadão, said that the Ministry of Economy may have been wrong in a recent decision. According to him, the National Department of Business Registration and Integration (DREI) was wrong to decide on cryptomoedas as part of capital stock.

He would have written in an article in 2019 that cryptomaps are not assets, therefore, useless to make up corporate capital. According to the economist, goods must be useful and easily appropriated.

Thus, in his understanding on the subject, it would make more sense to use a car or even a right, such as the exploitation of hydraulic energy, for example. These would be appropriate goods, something that cryptomites do not yet make possible, according to Sérgio.

On the other hand, the exploitation of hydraulic energy, which generates electricity, makes more sense than cryptomorphs. The economist argues that cryptomorphs have no utility, nor do they need to be appropriated.

He stated that possession of cryptomaps is due to individual codes, which if lost, make their recovery impossible. He said that since they are currencies that are not issued by any company or government, they are a technological experiment transformed into a global economic phenomenon.

The economist believes that even the regulation of the subject will not have the strength to turn it into an asset.

Despite criticism of the definition of a good in cryptomorphs, the economist recognizes the growth of the sector: „it needs more theory“.
The critical economist of cryptomorphs as part of corporate capital, however, recognized the growth of the sector. According to him, it is undeniable that the use of cryptomorphs has increased worldwide.

In addition, he added that much information is emerging about cryptomoks today. Even so, he maintained his view that cryptomorphs are useless for corporate capital in Brazil.

Anyway, quoting even economists like Gustavo Franco and Roberto Campos, Sérgio stated that cryptomoedas work in practice. Thus, digital coins are a reality all over the world today.

Some companies may already be using cryptomorphs to make up equity capital, as the ISDN has come out in favour of the issue. However, Sergio argues that the issue of cryptomorphs should have a greater theoretical basis before being applied to the economy.

Translated with (free version)