For many people across the globe, the adaptation of Cryptocurrencies, as the solution to money would be a difficult task. Not because it is not the right solution, but because of the difficulty in grasping technology itself. For others, cryptocurrency is a threat, but primarily through its transparency, as they always hold the belief that cash is king. By having cash in your pockets, they can hide the money that they got from the greedy eyes of governments and for what government don’t know that they got, the government cannot tax.
On the other hand there are those with vase amount of fiat wealth that they greedy hold onto and hide their collection of money over the years around the world, mostly through the exploitation other less fortunate and any new more transparent forms of money will be a threat to their wealth and the power that comes with it..
Many of my friends already admit that bitcoins and whole cryptocurrencies are way over their heads, they fail to see how money can both generate and work within a virtual space. The concept plays havoc on their brain, hence they are unable to see beyond something that physical. The lack of the imagination of a technological entity that is not tangible or in a physical domain. However, they understand that the world is changing, and they will need to be part of this technology journey and that the impact digital technologies as a whole including digital money will bring positive changes in all of our lives.
Governments globally are not yet ready for this new form of currencies, however, are growing to the belief that some form of digital currency will eventually become part of the solution to the world’s money issues. Governments around the world know the power of the blockchain technology but are unable to accepting the current cryptocurrencies as it would be out of theirs and big banks control. Banks are currently developing their systems that making use of the blockchain technology, so to implement their new form of cryptocurrencies and government will look to implement laws enforce the bank’s digital currencies legally.
