Hello, hives,
Today we will look into how Government and Cryptocurrency differ from each other. And what negatives Government must not use to sound decent while adjudicating on cryptocurrency. Government and Cryptocurrency are two different things with, completely different nature. It's weird that how the government backslashes cryptos on its negative while they overlook that negatives of cryptos are making more sense than how the government is formed and works. Lets check them one by one.
Formation.
The formation of government is more based on the direct and indirect forms of the election. This is how they are elected and are vested with the duties to progress society towards achieving a welfare state. It is often centralized in nature.
Cryptocurrency starts with an idea and is propelled by the ambition of making it more dynamic and usable. The goal is to achieve the maximum utility of it and in no sense, cryptos are derived with a capitalist intention only. It is often decentralized in structure, based on blockchain technology.
Representation
In a democratic direct election, according to the FPTP principle, the majority wins despite of having less than 50% backing by people.
In cryptocurrency, a broad consensus is brought to uphold any activity. It often requires 50+1 % of backing. So here cryptocurrency shows more participative in the governance of itself.
Executing powers
Government tends to be centralized and the powers are exercised by a few of the key people eg, cabinet ministers, council ministers. For example, In India, it is believed that the top 50 ministers decide the faith of 1.3 billion population.
In cryptocurrency, the sentiments of the entire community are reflected in terms of their holdings. So it is not only limited to top holders but the minor holders are also collectively responsible.
Responsibility
When something gets out of control the top ministers and executives are directly held to be responsible.
But in cryptocurrency, although few major holders can swing the trading and that will be more temporary as once they are caught they risk the fame of the entire coin.
