Government VS Blockchain
By Nikita Kosmin
Now that you’ve been with us for a while, you’re probably more or less confident about staying course with crypto. It’s been some time, and you know for a fact the biggest companies in the world are adopting blockchain, which means it is staying for good.
Besides, there is a $500 000 000 000 remittance market that is holding its breath eagerly anticipating someone who can provide instant transfers of funds for next to nothing fees. After all, if (hypothetically, relax) you’re a worker from Ghana that works somewhere in the US and sends the money back to their family every month, paying 15–20% to the banks and money transfer systems just to get the money over there is a really big deal.
And billions of people in the world don’t have access to banks. And we’re not being dramatic. Billions. Blockchain allows bypassing banks and, in essence, getting a bank of your own, only if you have a mobile phone that can send messages. Now, this, you may think, is a colossal threat for corporations and governments. How will they handle it? Is it possible to hold blockchain down or is the genie already out of the bottle and, just like with Internet, there is no holding down a substance that can pass through barriers?
One of our all-time favorites on the subject of the blockchain, finances, PCs, and economy, Andreas Antonopoulos, sheds light on the topic in an article by The Bitcoin Exchange Guide that aptly points out that “Bitcoin is not getting tested by governments, so much as governments are being tested by Bitcoin.”
At one of his tours called “The Internet of Money”, Andreas, who is a widely recognized Bitcoin expert (credentials) got asked the question of whether he or Bitcoin, on the whole, is a threat to the government (and they even suggested he should hire bodyguards). Here’s his answer to this question, and also to the question we posed earlier:
“Fortunately you are wrong about that thing because I am not a threat at all. Ideas are powerful and ideas change the future more effectively than anything in humanity, not people. The good news is that Bitcoin isn’t people it’s an idea. In a really beautiful way, it’s an idea that has been distilled into some mathematical formulas and put together as software. It doesn’t run in one place on the internet. It’s an idea that has been set free and runs everywhere.
It’s an idea which is dangerous because it’s an idea that is unstoppable. Governments have a problem with unstoppable things. Probably because their general application of power is to stop things. When you talk to people in governments there is something funny that happens which is that they assume that you are questioning their authority. I am not questioning their authority, but their ability.”
If you’ve never thought about it this way, the idea may seem a little alien. However, all era-altering forces have come out of the blue as far as society was concerned. Giordano Bruno was even burned at the stake for claiming the Earth spins in its orbit. This is how traditional the society can be to new ideas. We are more progressive now, but people still often react with contempt to the new. In the same way, no-one would believe you if you went back in time a 100 years ago and tried to tell the masses about the Internet and how it couldn’t be held down by the government. Now, stop for a second and think: what if the same happens with blockchain and this unstoppable, immutable (or immutable, even) force actually takes over the planet?
Tim Draper, another huge Bitcoin enthusiast, was on it even before Bitcoin became so hugely popular. He also happens to be the guy behind Superhero Training at Draper University of Heroes.
“In 2014, Draper predicted that Bitcoin would be worth $10,000 in three years. Sure enough, Bitcoin hit the $10,000 mark, soaring above and beyond this amount to reach an all-time high of $19,783 last December.”
Are there really any heroes left, you might ask, and what does that have to do with crypto? This is the story:
Draper:”A “hero” takes a long view at a low probability outcome, but the outcome will always be big. In fact, the outcome may or may not happen. In the ICO (initial coin offering) world, the heroes are those who are putting their necks out there to create a new coin or token to transform industries. For instance, ICO heroes are creating a token to transform governments by making them virtual. Crypto heroes have identified a technology that can take on the big monopoly and transform the world.”
Forbes: How did you come up with the number $250,000 by 2022?
Draper: The prediction that lead me to come up with $10,000 by 2017 was based on the idea that Bitcoin was going to be easy enough to use in the future and that people would be able to start trading with it and using it as a store of value. That is why I invested in Bitcoin.
Now, I think people are going to be able to spend cryptocurrencies, like Bitcoin, in mainstream situations. Cryptocurrencies will eventually replace credit cards and will be something you can access on your phone. I actually think cryptocurrency will replace fiat currencies entirely.”
So now that we think you are sufficiently informed, we have to remind you once again to always get your information from only the expert sources (like Tim Draper, Andreas, and us), cross-reference reviews so you can find out the truth through statistical probability, and make the world a better place by shining the light on the path for other people to follow. Join us if you haven’t already. The future is here. Be a part of it.