Looking back:
2018 has seen some big changes in the world of cryptocurrencies and blockchain companies and 2019 promises to be similar. With high volatility and lots of OMG moments there is a growing consensus that although blockchain is all about decentralization, some form of checks and balances are needed to help and stabilize the markets and streamline projects to prevent some of the disastrous failures that we have seen in 2018.
Vested Interests:
And that is were regulations come into play. Regulations that will change the game of blockchain and cryptocurrency. Regulations are primarily by governments and institutions like Central Banks. But these institutions have their own interests and often protect the big banks.
A need to organize:
To counter these interests and voice the opinion of the community, it is very important that we inform the policy- and lawmakers about what we believe to be important legislation to adopt and or regulations to implement. And for voices to be heard it is smart to organize.
One of the companies that is doing just that is the European Blockchain Foundation. A non-profit that with a mission to create a blockchain friendly Europe and make sure that companies want to move to Europe. They are working on influencing regulations and laws by lobbying governments.
An example:
One of these laws is the Anti-money laundering act that the Dutch government is proposing for implementation. A proposal that could have real impact on everybody selling or storing of using cryptocurrencies. With for instance the demand for paid permits for companies and creating backdoors in wallets to show what they contain, the Dutch government is trying to control something that is made to be private and force it to be open.
2019 and the future:
Most important for the community but also for broader acceptance by the public, is that we try to co-write or influence these regulations to strive towards a world where crypto and blockchain technology are just another technology that we all use without even knowing it.
For more information please visit us at www.tradebits.co
Thank you,
The Tradebits team.
