The EU Moves on the Cryptocurrency Regulation Bill
In the 1990s, the cypher punks (such as Eric Hughes, Timothy C. May, and John Gilmore) defined an agenda where public key encryption would change our world, and free our society from the control of governments, large corporate banks, and the state. Satoshi Nakamoto then crystalized this vision with the implementation of Bitcoin — and which has run without stopping since 2009.
For some, Bitcoin gives cryptocurrency a bad name, as its proof of work methods consumes so much energy, and that it has generally been used as an investment/gamble, rather than replacing our current financial infrastructure. But, cryptocurrency is only one small part of a much larger opportunity in creating a tokenized economy. Whichever country/region of the world can make best use of this new economy, is likely to be the one that benefits the most in terms of governance and economic development. Our old paper world — of paper money and wet signatures — will fade into the past.
Law makers finally catch up
Since the time of the cypher punks, we have seen some of the greatest ever advancements in computer science, such as digital signing, blockchain, distributed ledgers, zero-knowledge proofs, smart contracts, and so on. This has built a new world of trust and privacy, and researchers have continually strived to…
