I was recently asked if I thought IOTA would replace the Euro?
The answer was just too big so I decided to do a post on it.
Our civilisation is heading for a change in the economy the like the world has never seen in its entire history. Economists, bankers, financiers and Governments all know this.
After the 2008 financial crash there was no turning back.
2008 was the 9/11 of the financial world.
It basically proved that human-beings simply can not be trusted to run the economy because they simply can not control their own greed.
Things had to change because the world can not afford another crash again because next time it would be 100 times worse. This still could happen and if it did it would be financial armageddon.
Mass unemployment, mass starvation, cilvil unrest and possibly civil war.
After the 2008 crash no one knew how to fix the mess or even had the will.
So everyone just tried to ignore it or went on hoping it would get better even though they knew it was only going to get worse. Talk about the blind leading the blind straight over the edge fiscal cliff.
Then came Bitcoin and the idea took off right under the noses of the so called financial experts.
Bitcoin was ridiculed but so are all great ideas in the beginning.
I don't see so many experts laughing anymore.
The financial elite has begun to see their power seriously under threat. Only three years ago Jamie Dimon would never have even mentioned Bitcoin considering it as not being worthy of his time. Now he goes around the world attacking it. This only proves that Bitcoin is working.
Bitcoin is forging the path for the future but IOTA will own the path and create new ones.
If we went back 1000 years, gold, silver, peals and even rare seashells, were used as a form of economy. But then came the idea of paper money because gold and sliver were too heavy to carry. Bitcoin is like the gold and silver but IOTA will be like the paper money. The only difference is that no one be will be able to control /manipulate it like we have now with fiat money.
I remember Chris Ellis of ProTip once saying: "In the future it will no longer be about fighting evil, it will be about making the tools to stop us from doing evil".
That was a clue to the way the Crypto-technology is going to do just that. I think of it like those bumps in the road outside a school to force people to slow down.Putting signs did not work. "Some" people ignored these signs and ended up running over our children. So we put in bumps and selfish individuals were forced to do the right thing. Sadly this selfishness in human-beings is what has led to the need to re-invent money. To create a new kind economy to stop people like Jamie Dimon and his bankster friends from manipulating the economy so that it is just for the crooked elites.
Governments and Bankers hate Bitcoin because it embarrasses them.
They are embarrassed that they did not think of it themselves and we the people adopted it without their permission. How dare we!
Bitcoin sends them a message that; "We don´t need you. We are doing quite fine without you thank you very much".
My gut instinct tells me that this will lead to some kind of backlash against the crypto world.
Many laugh at this but I don not. I mean, honestly, who has ever defeated the state?
Governments can see for that crytpocurrrency works but dare not say it.
So what are the Governments and the bank choices?
Well they could not only ban Bitcoin but all crypto currencies. However, this would not only be almost impossible to police but possibly cause a backlash against governments on an unprecedented scale. After all, there are billions of dollars involved now. That´s a lot of people getting upset with losing their investments.
It would also open the door to poorer countries such a s Africa to adopt Bitcoin making them grow rich.
Oh no we can't have that : (
Banning cryptocurrency is not practical. Therefore it is more likely they would make people pay for a "license" and tax it to death. This would also have consequences that could damage the government.
Could they create their own Bitcoin?
I am certain many Governments are looking into this. I know ny own Governmnt here in Norway are talking about an ecoin which, as I understand it, would work similar to that of Monero, only more transparent I guess.
A Government created cryptocurrency would have the law behind it and the sheeple would be forced to accept it. But then any Government doing this would set off a chain reaction around the world for other countries to create their own. I recently heard rumours of China looking into this now. But then we would be back to the beginning again of having numerous economies all fighting for dominance. And it would mean the US Govt would have to let go of the mighty dollar and that seems unthinkable.
Whatever the case, the powers that be will not go down without a fight and we all now that when the people fight their Governments it is never pretty.
No one is really sure what will happen but history shows that there has to be some sort of economy. Meaning, a way for people to interact with a form of portable transferable store of value.
I believe Governments will eventually realise they will have to let go of the control of money but find other ways to "manage" civilisations instead of wanting "power" over them.
Everything is about to change.
In the very near future, and for the first time in history, machines are going to take away most of out jobs and therefore join in with the economy.
Autonomous Machines and Ai machines will pay their own bills to other machines as well as to us humans. And we humans will pay our bills to machines as well as to each other.
In a world like this there needs to be a mutual token of value everyone and everyTHING can agree on.
Now, look what is happening with IOTA
Many car companies are looking to working/integrating with IOTA for their future autonomous vehicles.
And who do we know has always had a close contact with the car companies?
The Government.
We all know that quantum computers are just around the corner.
Only last month China teleported the first photon qubits over hundreds of miles miles to in six input states demonstrating that quantum teleportation is universal.
This is the beginnings of the quantum internet.
At this stage in the game, only IOTA would be capable of working in this futuristic world. Therefore it seems logical, IMO, that Governments would join with the car industry, jump onto the quantum revolution and choose IOTA as the base economy and thus sweep the rug from under Bitcoin. Considering there are car companies all over the world this could be the very thing that forces this decision upon the world.
IOTA will be a tool that will help stop us from doing evil.
It will connect us all, human consciousness as well as Ai consciousness. It will be the thing that binds us all together.
So the answer to the question: Will IOTA replace the Euro?
Well I believe IOTA will replace all fiat money and become the first official
crytpo economy of the planet.
How much do I believe this.?
Well so far I have invested $1500 and while the price of Bitcoin is going up and other crypto-currencies are suffering I will buy even more while it is a t a bargain price.
What I write is merely my own thoughts from my own life experience.
If you like what I post you are welcome to follow me so you can read more. You could also give me a friendly upvote to help motivate me. It only costs you a click. And don't forget, every time you vote, part of the money goes back to you. So its a win win situation.
A warm welcome back in advance.