- Bitcoin jesus, roger ver in a recent podcast discussed about sovereignty, Government Censorship, and Voluntaryism.
- There are more than 20 startups that have come forward to only monitor crypto networks around the world.
- Roger Ver feels that it would be a trap that these currencies might get themselves in.
Bitcoin jesus, roger ver in a recent podcast discussed about sovereignty, Government Censorship, and Voluntaryism. Technological giants like Apple and Google have intruded on the world of applied utopia developed by blockchain technology. The computerized subjugation is due to the breadcrumbs left behind by transactions carried out on any network. Surveillance systems savor on such trails left behind that are mostly private. There are more than 20 startups that have come forward to only monitor crypto networks around the world.
A need for surveillance
The ledger monitoring platforms have come up due to excessive privacy breaches in the last couple of years. Wild swings are a major concern with digital currencies like Bitcoin. The regulation will stabilize the values of all coins across networks. Regulatory bodies will eliminate fears if any investors who fell short of their assets. If it comes under the definition of currency, central banks could soon issue licenses for various activities. It will help the asset grow multifold.
A fair, reliable, and safe market need to be present if cryptocurrencies are to replace fiat in the future. There has to be an agreement on a mass scale regarding its regulation and jurisdiction.
Disadvantages of crypto surveillance
Roger Ver, regarded as ‘Bitcoin Jesus’ feels that it would be a trap that these currencies might get themselves in. Investor exclusivity will compromise even with a fraction of regulation. High potential projects might get phased out due to over-regulation. The Initial Coin Offering (ICO) model could benefit companies to raise funds for various activities. If the process made more complicated, companies will shudder to use it to raise capital.
The verdict on regulation
Changes will take time to get implemented from the governing bodies if any. Furthermore, it should not be seen as a death sentence for cryptocurrencies. There are short-term benefits that come with stricter regulation for the newest asset class. However, the current rule isn’t tailor-made for crypto as pointed out by experts. They still feel a few adjustments could be made to better suit digital currencies. Users would not like their privacy compromised. Hence, soft regulations should work fine for all stakeholders present here.