Those who once used #cryptocurrency in settlements with their customers or simply when making purchases could not help but notice how simple and fast the payment is. Traditional (fiat) payment systems have begun to adopt the methods that first appeared and were implemented specifically in digital finance, for example, payment by QR code.
#Bitcoin has emerged as a supranational system. Partners in different parts of the world can do business with each other without outdated bureaucratic procedures. Cryptocurrency transfers easily across any borders.
And I think all this happened because none of the states interfered with the development of the basic principles of the bitcoin blockchain. This is what led to the result –pure mathematics and the Internet only.
The problem for the states is that none of them has been able to see the future of emerging blockchain technology. This is because the state is a reactive system. It only deals with what has already happened. But it does not create tools for the future. If the states saw the potential of the blockchain at the start, they would intervene at the first stages. And most likely they would only hurt.
Therefore, I think that the states represented by their services will have to drastically reconsider the approaches to their work with new technologies. Otherwise, they will not be able to provide security to the population – that is they will become unable to do their main job. And they will only interfere with the country development.
Cryptocurrency and banks — you can struggle with it or accept it
Those who once used #cryptocurrency in settlements with their customers or simply when making purchases could not help but notice how simple and fast the payment is. Traditional (fiat) payment systems have begun to adopt the methods that first appeared and were implemented specifically in digital finance, for example, payment by QR code.
#Bitcoin has emerged as a supranational system. Partners in different parts of the world can do business with each other without outdated bureaucratic procedures. Cryptocurrency transfers easily across any borders.
And I think all this happened because none of the states interfered with the development of the basic principles of the bitcoin blockchain. This is what led to the result –pure mathematics and the Internet only.
The problem for the states is that none of them has been able to see the future of emerging blockchain technology. This is because the state is a reactive system. It only deals with what has already happened. But it does not create tools for the future. If the states saw the potential of the blockchain at the start, they would intervene at the first stages. And most likely they would only hurt.
Therefore, I think that the states represented by their services will have to drastically reconsider the approaches to their work with new technologies. Otherwise, they will not be able to provide security to the population – that is they will become unable to do their main job. And they will only interfere with the country development.