How a Favourable Cryptocurrency regulation by the European Union can Change the Game for Cryptocurrency and BlockChain
Mar 11, 2018 Posted / 2503 Views
Countries in the European union have some of the world's highest standards of living among its ordinary citizens with an averagely high disposable income levels. This implies that these citizens can invest a small portion of their income and still remain liquid.
The ability to invest favours the sustainable development of ICOs, one of the most proven ways of successfully raising investment capital mostly being used by cryptocurrency and blockchain startup firms. The tokenization of the economy means virtually any firm or organisation which is profit based will be able to conduct and ICO in the future.
How ever its not only the successes of the firms that we should be worried about but a general perspective especially on the investors and the final consumers of cryptocurrency products. The government should be able to develop enough technical capacity to combat fraud and money laundering through cryptocurrencies.
With a favourable regulation in place governing cryptocurrency in the entire EU multitudes of new cryptocurrency ventures will pop up and foreign firms will move in too to tap the broad EU market. Currently millions of application of cryptocurrency and blockchain technologies have already been developed with others still being fine tuned to efficiently carry its design functionalities.
With a favourable regulation in place new applications of blockchain technologies targeting some of the most basic way of life will pop up. With an increasing development of artificial technologies and internet of things basically every aspect of the human life can be designed around blockchain.
This would include transportation, real estates, healthcare,education, security and governance blockchain has the potential to cover these all concurrently.
However it is inevitable not to realise that a government leadership would be necessary for cryptocurrency to strive. This is because some people most none millennials would not trust cryptos without an approval from the authority yet we need everybody to get involved if cryptocurrency is to go mainstream.
An increased adaptation in the European Union will lead to an increase in the Cryptocurrency market Cap and in turn more and more people across the globe will adapt cryptocurrency.
With a European Union Approval of cryptocurrency other nations are most likely develop a positive outlook on cryptocurrency. For a sustainable cryptocurrency adaptation a large scale pilot scheme needs to be conducted to assess the functionalities of crypto in a large regulated environment.
Adaptation by governments is one of the best ways of allowing a maib stream usage. The biggest problems however governments feel they don't have control on the major cryptocurrencies and would wish to develop their own cryptos. Countries like China and Russia already have proposals for their own national cryptocurrency. Venezuela recently developed the cryptocurrency Petrocoin which is backed by the Countries oil and gas resources. This shows the magnitude control the government wants on cryptocurrencies.
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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