The voice of Malta: Blockchain makes cryptocurrencies the inevitable future of money
As usual, when it comes to the tropical paradise island of Malta, there’s nothing but good news, progress, and eager anticipation.
There have been various (often drastically different) opinions on the fate of blockchain and crypto technologies. When it comes to all things relatively new and unexplored, the majority associates all things that haven’t been tried and tested with danger. The same was said about the Internet: “a shelter for terrorists, pedophiles, and drug dealers”. And yet what we see is that the overwhelming majority of people today use the Internet for good — enough to make it a rule and rotten eggs the exception.
Blockchain has seen its own share of toxic reviews. There are still doubts, even despite the fact that all you have to do is go on Google and the first link you will see when you type “companies that use blockchain” is a page from Forbes’s book that showcases the world’s greatest 50 companies that activelyuse blockchain to transform the world.
We think this is the usual algorithm for all radically new and transforming things that dawn on the humankind. First, they ignore you, then they laugh at you, then they hate you, then they fight you, then you win. It takes time for all great inventions to get implemented, although, judging by the speed with which the niche of blockchain is transforming, the time for mass adoption of blockchain is almost upon us (some say it’s already here).
Crypto millionaire Brock Pierce, who is believed to have made just a little over $1BN on online gaming just to give it all away to charity, the owner of a black DeLorean with number plates that spell SATOSHI, and whom John Oliver once described a “sleepy, creepy cowboy from the future”, is confident that blockchain will change the lives of the populace of the developing countries. 4 000 000 000 people in the world are estimated to have no access to banking, but most of those people have access to a mobile phone that is capable of sending and receiving text messages. If you had nothing all your life, a new technology that transgresses geographical and class boundaries could be everything.
Just as Amir Taaki, another crypto giant, considers commercialization of blockchain a turn away from Satoshi’s true values of empowering the individual, he is confident blockchain is there to empower people, not companies.
It is estimated that $500BN is sent every year my foreign workers to their home countries, and companies routinely charge an average of 15% to transfer the money. What happens when those workers discover they don’t have to pay this immense amount in fees and can use the Bitcoin network instead? Brock Pierce is aiming to transform these countries, just like Amir Taaki in his time planned to transform Syria with Bitcoin.
“The right way to think about the blockchain is that it’s going to replace the entire Internet,” says Pierce.
“When the Internet was first being developed, in the Seventies and Eighties, we didn’t have the computer-processing capability to actually secure the Internet. By the time we got the processing ability to implement the necessary cryptography to secure it, the foundation had already been laid. So we just kept building for, like, 30 years. But it’s been fundamentally broken the whole time… “We’re going to rebuild Puerto Rico with money that we saved from the IRS in a Robin Hood fashion.”
Have you noticed how often blockchain seem to be associated with beautiful island places deep in tropical waters where life is nothing but heaven? Malta, the legendary magnet of online gamers and world’s smallest bikinis, is also very fond of the new tech. On September the 27th, the Prime Minister of Malta, Joseph Muscat, called “Blockchain makes cryptocurrencies the inevitable future of money” in front of no less than The General Assembly of the UN:
“Blockchain makes cryptocurrencies the inevitable future of money, more transparent since it helps filter good businesses from bad businesses. But these distributed ledger technologies can do much more. There are challenges in this fast and obvious transition to a digital economy and society. These challenges have to do with the very nature of concepts that we believed would stay with us forever […] but solutions do not come by closing doors.”
We at Revain are supremely proud to be on the edge of the new tech (and also a little smug because we have been telling you this, just in other words, long before this news). We do still understand the huge risks associated with blockchain’s immense opportunities, and, as your area of influence grows, so does the need to become more tech-savvy so you can protect your funds.
We have been hard at work developing new layers of protection and functionality, so make sure you check out Revain’s version 1 and stay in touch with the latest news described in the blog section. See you soon!
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