Central Banks and Blockchian
Chaos out the OldWorld
Speculation can be the worst killer in any market. The same can be said in the global economy. Which its intertwined and connected through banks and the mighty $ dollar.
2016 has been a year of uncertainty and chaos for many places around the world. We have seen widespread social unrest throughout the world, as many countries are facing a financial bubble of unseen proportions. That shouldn't be a reason to panic and run to the shelters just yet.
By Katrina.Tuliao - https://www.tradergroup.org, CC BY 2.0, Link
Crypto in the NewWorld
Although most countries know about the financial uncertainties, they can't pull out from the global market for fears of a meltdown and even more widespread social unrest. With the blockchain, some central banks are looking for ways to diversify away from the toxic fiat currencies in hopes for a better world. A recent survey conducted by the Deutsche Bank found that 78 percent of participants see widespread use of the blockchain within just 6 years. It could just be a matter of time before widespread adoption.
Once more and more people see the benefits of joining, they will not hesitate to do so. At that time it will be up to major economies to adopt or stay behind.
Pretty exciting. I think they say it takes about 10 years for a technology to go from fringe to mainstream adoption. Of course could vary based on how mind blowing it is.
Seems about right for the Internet-- we had it in 1995, and grandparents used it about 10 years later.
Of course crypto could be influenced by what kind of pressure the banks want to put for or against it, but longterm no one can really suppress whatever the best technology and the best way of organizing is, so in my mind they will just work with it and embrace it whenever the moment is right.
rock on, mr. echoes
Thank you @full-measure
Even amazing things can take some time to catch on. A lot of people still don't really know what bitcoin is, much less the blockchain which is what powers it.
Good things come to those who wait. (:
I'm pretty new to bitcoin and blockchain technology and my programming knowledge is zero, but one of the things I've been wondering about is, do you think it is/will be possible for the government or central banks to basically co-opt bitcoin and control it?
@asymmetricanarch Bitcoin is designed in such a way that no one single person or corporation can control it. Since its decentralized, it has been very difficult for governments to even think of ways of how to control it. It could however be restricted and laws could made that would make it harder for people to use, however since its a global crypto currency the chances of that happening are slim to none.
They will however try to make their own crypto currencies that will be more centralized.
I think even then bitcoin will remain and be even more popular then it is now, making it a wanted asset like silver and gold.