Bitcoin Will Be Dominated By Western Nations, China Will Be Vassal Nation Again
Akin Fernandez, a software engineer and owner of the Bitcoin startup Azteco, predicts that China will not enjoy the benefits of Bitcoin. He says: “Beijing enforcing a thirty-day lock-down is suicidal and at the end of this period expect a shock exodus from Chinese exchanges as users move to businesses in better jurisdictions.” His comments come in the wake of the People’s Bank of China’s Directive to Exchanges in China to close the two main exchanges for 30 days until they implement Anti-Money Laundering system to ensure they are in compliance with local financial and money transmission....
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Yes, I’m talking to you. Yes, I’m talking about your country, whether it is Russia, China, or the United States. The more modern and advanced your economy, the faster it is coming your way. The discussions have been going on for a couple of years now on how to do it. The only question is when to spring it on the masses. If you are in a less than a state-of-the-art economy, like Pakistan or Guam, you probably have a lot more time left with the paper. Most of us aren’t so lucky. Cash has been on the clock in the most advanced nations for years, with central banks limiting how much cash you....
A nation state is defined by UNESCO as one where the great majority are conscious of a common identity and share the same culture. Currencies and nations. The socio-cultural parts of a nation state form its backbone. Indeed, it is possibly for one nation to have multiple currencies or for many nations to share one. However, with the advent of the Internet, things have been rapidly changing. Traditional borders which were stiff and inflexible have melted away in the sense that today people can work internationally without having to leave the comfort of their own home countries. Sources of....
If blockchain is done right, borders will begin to disappear. Immutable, shared ledgers of transactions and goods could come to serve as a reminder that everything we grow, build, buy and sell comes from the same tiny planet. But this future is far from guaranteed, and the various blockchain developer groups competing to bring it to life have so far struggled to involve talent from all over the world in this global vision. Blockchain consortium Hyperledger, for example, was initially founded with support from companies in almost exclusively Western nations. Yet, the consortium has grown....