I may be wrong but I think the fastest thing to evolve on planet earth is crypto. One minute we see bitcoin’s bull running and passing the all time high of $70,000 plus and then the next minute, everybody is just stuck in a holding pattern with all eyes on Wall Street's big players to see what move they make next.
Larry Fink who is the CEO of BlackRock, might have come up with a gokd plan to change everything.
The plan is to have an AI-powered, blockchain-driven dollar and all of that looks very futuristic but I honestly don't know whether it's feasible soon or not.
Can we really trust the same institutions that got us into the last financial mess to handle this kind of ambition without blowing it over and worsening the financial case even more?
Larry says bitcoin is basically gold now and infact it could be more than that.
With BlackRock trying to take over the crypto world itself we may be looking at bitcoin and ethereum becoming legitimate commodities in the near future. If that happens , it'll most definitely change things.
Crypto was designed to be decentralized and no matter how much we pray it stays that way, with the moves that these multi billion dollar Institutions like BlackRock are making with ETFs, it'll make crypto more accessible but less independent.
We're definitely losing that freedom Bitcoin used to represent from traditional finance. The very people we the crypto community were trying to run away from, are now getting big chunks of the crypto share and trying to control what was not meant to be controlled. I think in the end the story might be the same with the rich controlling everything whether it says decentralized or not.
Now their plan is to digitalize the dollar completely. I understand there's a lot of advantage to that like faster transactions and more transparency.
If you want to know the downside to this so called brilliant idea just look at China’s digital yuan. The thing is efficient, yes, but it comes with surveillance baggage.
I’m not trying to say the U.S. would do the same, but maybe I am trying to say exactly that. We already have privacy concerns online, and these are real concerns.
The Fed’s are saying they won’t move without Congress, but let’s just be honest here, if they want it, it’s definitely happening. Digitalizing the dollar will cause the crypto price to go high but is that worth freedom of Decentralization? You answer that yourself.