…the chart provided below, Venezuela currently stores over 60% of their current GDP in these havens. With China, an ICJ leak revealed how over 22,000 Chinese citizens were storing wealth oversees. China responded by trying to block access to the site. It is estimated that China has transferred 1$ to 4$ trillion dollars worth of untraced assets since 2000. Alstadsaetar and Johannesen and Zucman (2017) found that the Chinese do not really use tax havens to conceal wealth but rather to “circumvent a number of regulations that restrict cross-border investments in and out of China.” The irony here is the autocrats know best that Bitcoin can be useful here; however, they only want that ability to themselves.
With decentralized exchanges, there will be no way to store information on the participants as the exchange itself does not hold or control that data. As public backlash, leaks, and political turmoil increase, it seems very likely that even the autocrats themselves may have to turn to alternatives like Bitcoin to conceal and keep their wealth, at the very least as a hedge. It seems inevitable and a matter of when not if that a percentage of the wealth held in tax havens begins to flow into Bitcoin and the cryptocurrency economy.
…an find a use and it seems likely that it will tap into this market, if it is not already doing so. In the near future, it may become very possible to use Bitcoin on decentralized exchanges to buy a wide variety of tokenized securities and assets. Using this method, the buyer will be in complete control of the assets they are trading in an anonymous manner.