Governments all over the world are not keeping up with the technological revolution. They need to adapt quickly to a changing world and change their attitude towards cryptocurrency and the companies working with it or miss the mark. Many governments and the anti-crypto media associate cryptocurrency with nefarious activity, however, what they fail to acknowledge is that criminal enterprise has been rife with fiat currency for eons.
Tim Draper, billionaire venture capitalist, and avid Bitcoin aficionado had this to say,
“It is akin to the Luddites. They are in fact saying, ‘we will not tolerate progress.’ It will set them back 40 years. Imagine if they did this with the internet?”
He also noted, “The criminals will still want to operate with cash because they catch everybody who is trying to use Bitcoin.”
Blockchain and Crypto go hand in hand so given that Blockchain is an immutable, distributed, decentralized ledger criminal actions can be detected easily so cash gives the fraudsters a chance to stay unnoticed.
Ironically we are seeing that governments are supporting the new Blockchain technology but still very anti-cryptocurrency? That seems very confusing and verging on neo-luddism. They either don’t fully comprehend what they are dealing with or they are running scared. Could this mean they will lose control and authoritarian power over society? Especially in the case of fiat currency. Since 1971, fiat is not backed by the gold standard making it highly inflationary and totally worthless. So it basically has no intrinsic value. It has been established by government regulation and the people then, believe it to be valuable, not because it has any inherent value.
Cryptocurrency and Blockchain simply mean we will not be a slave to the current economic failings of bureaucracy. It’s essentially giving citizens, including the unbanked a real chance at some form of wealth, freedom and overall better quality of life. So Crypto can also be a valuable contribution to the people en masse. As more adoption takes place in this decentralized environment, the more power lies in the hands of the majority rendering governments inept.
The approach some governments are displaying by restricting new technologies is a desperate measure and will not work in the long term. Banning will not work. How can you ban cryptocurrency but approve of blockchain? The problem lies in the fact that many in government seem to lack a clear understanding of this technology, this futuristic economy, and also the needs and wishes of society. To me, it seems to be very self-serving on the part of the politicians protecting themselves and their interests. People have become more aware and are tired of politics and a lack of transparency. Governments that take this stance are restricting their growth and will end up losing their power.
Statistics show that the younger generations would rather invest in cryptocurrencies than traditional stocks and up to 70% would invest if it were made easier by mainstream, which means there is a perpetuating interest in new technologies and the future currencies.
The good news is some countries have embraced cryptocurrency-based technology such as the San Marino Republic and in the course of Venezuela’s hyperinflation, the government has turned to crypto as a solution to the economic crisis. Malta is another country to embrace the new technology. Cryptocurrency exchanges along with many other companies have relocated to the new economy friendly Mediterranean island nation.
The way economies around the world perform is altering dynamically, as the respective power switches from established, centralized forces towards those that support and respond to the unparalleled empowerment of individuals. If governments are to overcome the challenges they face and maximize the benefits of this change for their communities, they need to get their bureaucratic head out of the sand. Otherwise, the transformational forces of what is taking place will leave them and their citizens behind.
Ten years ago there was only Bitcoin and although it is still the flagship cryptocurrency, many more have been created since then. There are literally thousands now and many will not amount to anything. However, a select few will rise up and be a true peer to peer currency with the concept of Ethereum and smart contracts, a way has opened up for the utility or consumer coins and platforms and with that an endless amount of opportunities for all types of use cases.
You’ll find some in the supply chain industry, where leading Blockchain startups like VeChain has quickly gained fame. More pertinent to online marketers and small business owners with an online presence is the Market Network replacing old school Social Media and Marketing and is exploding on a global scale.
Aligned with Bitcoin, the flagship cryptocurrency is some major players such as Ethereum, Lite Coin, Markethive Coin to name a few. These coins have secured their place in the cryptocurrency world as they have a concept, products, and services underpinning them. This is needed for sustainability and velocity. Also by aligning themselves facilitates the ease of liquidity through either their own and 3rd party exchanges.
If you’re looking for an opportunity to increase your brand awareness and presence online in an autonomous, collaborative environment with privacy and freedom of speech, away from the centralized environment of web 2.0, and into the newly defined complete reinvention of the web being Web 3.0. then Markethive is the answer. It is the ecosystem for Entrepreneurs with an authentic and genuine opportunity to create a universal income. A complete platform that will empower you and a place you can call home.
Markethive is also giving you the opportunity to own a piece of this universal platform that is taking the world by storm for a limited time. This is for everyone, the little guy and gal, the rank and file. Markethive has made it so easy to be part of the next Facebook, LinkedIn, Amazon, eBay, Cointelegragh, Marketo, Hubspot combined. A fusion of all of these platforms aforementioned is the next generation built on Blockchain ensuring privacy, autonomy, free speech, wealth and empowerment for all. MARKETHIVE
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Market Manager for Markethive, a global Market Network, and Writer for the Crypto/Blockchain Industry. Also a strong advocate for technology, progress, and freedom of speech. I embrace "Change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.