The development of cryptocurrency in the future will no longer depend on the ability of blockchain technology to answer various financial issues. Blockchain technology with smart contracts can be made in various kinds of applications. The next step towards mass adoption of crypto is political policy. Political decisions in making regulations regarding cryptocurrency are the main basis for developing blockchain-based applications in the future.
A small Libertarian party has decided to revolve all of its finances around a cryptocurrency that they themselves have developed.
Not only do they offer the supporters a way to withdraw these cryptocurrencies from the platform, but they also assign them a vote in the future strategies of the party. Basically, if someone buys around 2% of the overall volume of GED (the crypto that the party created) they can make definitive decisions on how the party operates.The ratings for this party have shot up compared to their previous years and are looking to easily enter the parliament after the 2020 elections that will lower the bar to get a representative a seat in the committee.
https://en.cryptonomist.ch/2019/10/20/politics-and-cryptocurrencies/
This is an example of how a political party has increased in popularity by using cryptocurrency as funding. Another example is when policy holders in the United Arab Emirates listen to cryptocurrency experts to make regulations about cryptocurrency use. as a result the United Arab Emirates is the country most open to cryptocurrency in the Middle East. Although indirectly, political decisions on good cryptocurrencies provide good news to cryptocurrency developers and users.
Will cryptocurrency and politic will be trend in the future years?
There is some cryptocurrency and political involvement in other countries. The two examples above illustrate that the public is increasingly aware of the need for decentralization in finance. Libertarian ideology is in line with the decentralized system of cryptocurrencies.
Can a country totally ban cryptocurrency? Obviously not, this is evident from the state of China which in 2017 banned ICOs. Only ICOs can be banned but there are still many cryptocurrency users in China. There are many ways to exchange cryptocurrency because of its decentralized nature, peer-to-peer exchanges are an option when official exchanges are banned. In the end, banning cryptocurrency will only hurt a country. The prohibition will only result in more and more illegal transactions. Cryptocurrency has become a border-less global community. Users can exchange and transact using cryptocurrency without country restrictions.
How the SEC is closely monitoring the activities of blockchain developers. Oversight is needed but relaxing regulations is also necessary. Banning cryptocurrency is like banning the internet. If a country doesn't want crypto money to circulate, just close the internet. Like Georgia, political parties will use cryptocurrency as funding more widely. The notion of cryptocurrency as a criminal tool can be eliminated when public officials of a government officially announce the legalization of cryptocurrency. Let's wait for crypto holders to take part in politics.
