Bitcoin threat: Can we imagine the world without World Bank?
Oct 27, 2017 Posted / 18977 Views
In the thick of the various discoveries made by those who stashed their cash in Cypriot banks is that the island's government can possibly stop them moving their money anywhere. Capital controls are supposed to be a history now, an invention of the pre-globalised world. But it turns out that when banks are scared, the gloves come off. One of the effects of the awakening seems to have been a surge of interest in a virtual currencies like Bitcoin. At any rate, the price of a single Bitcoin reached $6,000 at one point last week, which tumbled a few dollars few days back. The Bitcoin craze is one of the most interesting things to have happened in the digital world since the invention of the peer-to-peer networking that undermined many businesses.
Bitcoin have raised all kinds of intriguing questions. Is it a bubble? At the moment,it is uncertain to answer. Is it legal? In some countries, Yes, it is, while in many countries it is not. Is it technically breakable? Probably, yes, not because it's badly designed, but because everything based on software will have vulnerabilities and flaws. Is it innovative? Spectacularly yes. Will the authorities in every jurisdiction hate it? Emphatically yes, and they will use Bitcoin's affordances, for example money-laundering, to justify their hostility, but basically it's just because they can't stand the idea of a currency that can't be debased to political order.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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