Cryptocurrency – The Cure For Corruption
Cryptocurrencies and the blockchain technology ,they are built on have the potential to upset government-backed currency systems.
The decentralised nature of cryptocurrencies means participants can trade money freely without restrictions, and potentially create global governments on the blockchain.
The nature of cryptocurrencies means that they can operate without restrictions based on location or political climate.
The implications of global currency systems will have far-reaching effects on governance and currency trade.
“Cryptocurrencies are inherently global and do not operate in terms of borders. This is the first planetary revolution in governance and, as such, is unprecedented,”
In its current nascent state, cryptocurrency can already be used to freely move money across borders with minimal transaction costs.
The only current limitation of this system is the regulation of fiat-to-cryptocurrency exchanges, which would become unnecessary if cryptocurrency gained wide support as a transactional system.
cryptocurrency and blockchain technology could also help citizens wrest control of their finances away from corrupt governments.
Widespread adoption of cryptocurrencies could lead to decentralised governance systems, where citizens have increased control over how their funds are spent to further the interest of their government.
cryptocurrencies could change society as we know it, with governments becoming powerless as the power of fiat currency wanes in relation to a decentralised currency system.
“Ultimately, this will change all of society, if successful, and will threaten the nation state,”
