Tokenization: Creating Sovereign States
(Edited)
Cryptocurrency is going to change a lot of things. We are going to see the established system really coming under fire. This is what the politicians are starting to see. They realize they are starting to lose control.
In this video I discuss how we are going to see communities end up growing large enough to rival sovereign states. They will become their own sovereign entities.
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Should we start coming up with a Hive national flag? We already have our own currency.
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Flags are so XX century... We have logo in place:)
A digital flag. LOL
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Hive is uptrend all over the world.
Not sure that is the case but I hope you are right.
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We are introducing this platforms in the Philippines specially to the millennials.
I hope you dazzling success.
We need to start getting people involved, especially the younger people. That would be great if we could see thousands from the Philippines joining.
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Summary:
In this video, the speaker discusses the current state of cryptocurrency regulation, government involvement, and the potential impact on the political and regulatory establishments. He emphasizes that governments are struggling to understand and regulate cryptocurrency due to their disconnect from technology. The speaker highlights how decentralization poses a threat to the establishment's power and explains how tokenization can lead to the creation of communities that act as sovereign states. He mentions Facebook's potential to become a virtual sovereign state through its cryptocurrency project, Libra. Additionally, the speaker delves into the concept of community governance, the disruption caused by tokenization, and the diminishing power of governments over the next decade.
Detailed Article:
The episode delves into the complexities surrounding government regulations and involvement in the cryptocurrency sphere. The speaker expresses how governments worldwide are grappling with the rapid rise of cryptocurrency and the challenges it poses to their traditional structures. He notes that many politicians lack a background in technology, leading to a significant disconnect between policymakers and the innovative nature of cryptocurrencies like Bitcoin.
Furthermore, the speaker emphasizes the threat that decentralization poses to the existing power structures. He describes how the current attempts at regulation and control are reactionary measures by governments to maintain their authority. The recent actions by the United States Congress are cited as evidence of the establishment's struggle to adapt to the changing landscape of finance and technology.
A key point of discussion is the concept of tokenization and its transformative potential. The speaker explains how tokenizing communities can lead to the creation of decentralized economies and even sovereign states within the digital realm. He draws parallels between large online communities, such as those following celebrities or sports teams, and their capacity to become influential entities akin to countries.
The episode touches upon Facebook's ambitious venture into the cryptocurrency space with the Libra project. The speaker highlights the implications of Facebook potentially creating a sovereign state with billions of users, raising concerns about centralized control and economic dominance on a global scale.
Additionally, the episode explores the evolving governance models within cryptocurrency communities. The speaker envisions a future where individuals can choose the rules and regulations they wish to abide by, shifting away from the constraints of traditional geographical boundaries. He discusses the increasing popularity of decentralized finance (DeFi), non-fungible tokens (NFTs), social tokens, and decentralized autonomous organizations (DAOs) as examples of this trend towards community-led governance.
In conclusion, the speaker forecasts a future where governments face diminishing power and relevance due to the unstoppable rise of decentralized technologies. He anticipates a paradigm shift towards community-driven decision-making and a gradual erosion of traditional power structures over the next decade. The episode serves as a thought-provoking analysis of the potential implications of cryptocurrency and blockchain technology on society, governance, and the global economy.