So you know pretty much from the beginning we have been telling you about the vicious struggle between the governments and the cryptocurrency community.
The idea is as it always has been: the governments are trying to control the people so it can squeeze the last bit of income from them before they’re discarded.
The major corporations like Google and IBM are using blockchain. The US is trying very hard to create a bill that will put Blockchain under control. There are free thinkers who are sure the core values of Bitcoin are empowerment and freedom but now, for the most part, it’s just a market with commercial needs.
Still, despite the fact most people are just using blockchain to get rich very quickly (or poor), there is a share of innovations that have a potential to surprise you in a nice way. The blockchain is being used extensively around the world for a variety of purposes.
The world hugged by the crypto technology
The most progressive countries are heavily into Bitcoin and all Bitcoin-related activities. In some countries, cryptocurrencies are forbidden. For the most part, though, people seem to be pretty happy about a tech that offers immutability and incorrigibility of data – and a complete log of all related events. Token Target reports the losses of $3 000 000 000 in the US because of bad data. So the truth is that the world needs a system that would provide perfect data with a perfect history. We could even say it desperately needs it – and we would be correct.
So who is going to dive in and use the new Force to their advantage? The most refined and tasteful countries of the world have already made their selection.
Singapore, known for its fast pace of development in the industry, has provided $225 000 000 for blockchain-related activities. The Monetary Authority of Singapore is very enthusiastic about all this, looking forward to a system that would allow quicker transaction times, faster refunds, and a wealth of other advantages. Chief Financial Technology Officer, Sopnendu Mohanti describes to CNBC creating “bringing the broader ecosystem together so we all learn together.”
“Don’t fear to do experiments and don’t fall into traps of signaling policy changes. Some regulators are afraid to do experiments because of this tremendous external pressure on them. We are trying to drive that culture globally.”
The UK is probably one of the most forward-looking countries in terms of crypto tech. The UK has “a Digital Strategy” planned specifically for that kind of thing, and the emphasis here is on
“new ways to work with personal data with more control and trust… [and] applications of blockchain and smart contracts”.
There is a myriad of different businesses in the UK that accept blockchain – and you can even pay for a beer with Bitcoins (like in Sydney).
Sierra Leone, which is admittedly not the first country you would think will be using the new world order tech, is also very keen to implement the system in the same way that Brazil is going to. Business Insider reports:
“Swiss blockchain company Agora provided the service to Sierra Leone’s Western District, which houses the nation’s capital of Freetown and is the country’s most populous area.
After voting, each paper ballot was logged using specialized blockchain technology.
Similar to how blockchain provides transparency in cryptocurrency transactions by storing data in a public record, Agora hopes to provide transparency in elections.”
UPD: Paradoxically, since then Sierra Leone has done a complete U-Turn on cryptocurrency, denying its usage in the elections, leading people to wonder exactly what happened. Very interesting…We’ll highlight this too in the near future.
And it looks like other Governments as well
Russia is planning on joining forces with India, Brazil, and China and others to create its own cryptocurrency that would reach almost half of the world’s population.
Dubai, in addition to granting a citizenship to Sophia the Robot and promising flying taxis, is unfolding 20-something blockchain-related activities in 2018 that would make life massively better for everyone (except for the criminals). Arabian Business reports:
“A digital currency has varied advantages – faster processing, improved delivery time, less complexity and cost, to name a few,” said in a press statement. “It will change the way people live and do business in Dubai, and mark a giant leap for the city in harnessing game-changing innovations to improve ease of business and quality of life.”
Ali Ibrahim, Dubai Economy Deputy Director General
As we can see, the world largely is quite enthusiastic about using the new technology for the purpose of good: improved coordination and communication, faster transfers, more time spent playing and less working… Efficiency and intelligence are everyone’s friend.
The thinking behind it is as simple as it is brilliant. The old times when one farmer would drive around in a cart and sell carrots to the other in exchange for potatoes were replaced by all sorts of innovations: money in its physical form, Internet transactions, intellectual property becoming the universal currency. At some point, the government will start to experience a crisis because of its inability contain the new currency that would undermine the banking system, which is at the basis of its state of power.
Still, as it turned out that it is impossible to police the Internet, it will turn out it is impossible to police cryptocurrency. Something that was previously contra-government will now have to become government’s ally. And this could possibly be a new world that they talked about in The Matrix. A system in which the power truly does belong to the people. Maybe all this time the Matrix was about crypto technology…Little did we know.
Image courtesy of AAMULEHTI, Fine Art America
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Tags:2018BlockchainBlockchain TechnologyBTCCrypto MarketCryptocurrenciesCryptocurrencyCryptocurrency MarketEthereumRegulations