RE: Cryptocurrency's Rapid Expansion: Use Cases
You are viewing a single comment's thread:
It really doesn't matter whether it's tokenized digital assets or non-digital assets, which rely on a legal system to enforce their backing by an underlying asset. The main thing is that if crypto tokens end up in the hands of the average Internet user, it will be impossible for governments to shut the crypto space down.
Posted Using LeoFinance Beta
0
0
0.000
That is key. We are in a race to get enough tokens in people's hands to prevent an sort of "shut down". While they cant really do that, they can use their guns and jails to make examples out of a few key people and scare the rest.
Posted Using LeoFinance Beta
What I find interesting about the BEOS blockchain is the ability to pick and choose which jurisdiction you run your smart contracts in. That way, you can avoid certain legal pitfalls.
That and decentralizing everything possible are key to keeping governments at bay. It is also important to create a market for digital as well as analogue goods to make avoiding KYC possible. While I don't think cash will be phased out any time soon, Bitcoin ATMs tend to have KYC nowadays and so has LocalBitcoins. The KYC shit is highly annoying as it in actual fact does little to prevent money laundering as it is done by regular banks at a whole another scale but the little guy is made to put up with it at every turn.