The topic is a challenging issue in many countries (It is better to say that the governments, not people who live in these countries) such as Iran due to having no certain law regarding cryptocurrencies. In my opinion, it depends on which angle you (or governors) look at it. The number of countries such as US, Canada, Japan, and … have solved the problem and considered it as an opportunity and establish their future based on it. on the other hand some of which have outlawed cryptocurrencies specifically bitcoin, due to lack of its controllability. Those are China, Russia, Sweden, and so on. Whether we wanted it or not, it's growing. It's just like the Internet, which was a prototype in 1990.
In this here, I want to use an example to a better understanding of it.
Kudzu is a plant which in the United States considered as an invasive plant, while its potential in Japan is used as food and medicine. In this example, you can see the two face of the coin. On the one hand, it covers the trees and eventually causes them to die.
In the other hand, due to having potentiality, it can be used as Soil improvement and preservation, animal and human food, fiber art, and basketry as well as It can be used in traditional medicine for therapeutic effects.
Kuzumochi (葛餅), Japanese-style kudzu starch cake (Katori City, Japan)
You can see that two countries have tow different sight in this plant.
The blockchain is similar to that. On the one hand, it can increase the strength of people to acheive better life, causing decentralization, and on the other hand, it may lead to the disrupting of some industries. Even some of the countries declare it (blockchain technology) illegally because of they will not able to perform ban on the websites that don’t like them.
In conclusion, I would like to say that Whether central governments wanted it or not, the world economy will be affected by the blockchain technology in the coming years due to having security, easier accounting, and the simple finding of business partners in across the world. In this way, it may affect financial players, therefore, they should go on and adapt yourself to it.
For the rest of us, happy days are coming. Enjoy it!
Please let me know your thoughts.
Thank you.