We all know that the world is changing and people are thinking of innovative new ways to streamline the processes and make things run more efficiently. In many industries, this is a positive change.
There are times when changes like these can be viewed as threatening and seen with resistance and skepticism. The case in point here is the cryptocurrency industry, despite the fact that it already made a boom everywhere.
Basically, cryptocurrencies have an aim of giving monetary power back to the people and is already revolutionizing the global financial market. What’s ironic is that this is the same market that is controlled by governments and central banks which is exactly why it is easy to see why these entities would be against the disruptive nature of the digital currencies.
However, the combined market cap of cryptocurrencies is well over $600 billion. This makes them a viable options for citizens in countries where the conomy is in the red or where authoritative leaders are in charge.
In the latter category, governments can give citizens autonomy over their own money and let them earn big on crypto. By embracing the cryptocurrency craze, they could fill their coffers too, all thanks to tax initiatives.
Take China for example. After they banned ICOs and shut down exchanges, the country managed to lose billions of yuans’ worth in tax which would have definitely helped their GDP to grow and the country to prosper.
So, the idea is simple – governments that are more secure must have a different view on the importance of virtual currencies in today’s world.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]