Hello Hive Ghana Community! Welcome to my blog. Cryptocurrency is the the future of money. It is dominating in marketing, Bussiness and even everywhere. Its positive role can't be neglected in the world. In the some countries, governments had accepted the future of cryptocurrency and they are making its regulations. I don't like the anti-cryptocurrency role of any government. They both should be on the same page for the development and progress of a country.
Importance of Crypto
As the world is making progress, it is deploying the fastest and safest means of business. Bussiness and Finance both are interdependent to each other and their gap can be bridged by Cryptocurrency in any country. I consider cryptocurrency important because
- It provides freedom of money.
- It ensures Privacy
- It enhanced the speedy flow of money like hundreds of transactions within seconds
- It provides full control on Digital assets to its owner.
- Relief from Bankruptcy
All these exceptional things make cryptocurrency Worthy. It is totally foolish and stupidity to stop cryptocurrency regulations in any country. Government's role is negative and should be discouraged.
It had been seen in many countries that most of the governments are playing negative roles regarding cryptocurrency. They are banning its publicity and filing cases against people who are involved in its promotion. Governments are puppet- show in the hands of corrupt people who don't want to free flow of money. Following basic factors are involved in negative approach for cryptocurrency by any government.
- Tax Collection
- Privacy Hijacking
- Monitoring Money Flow
- Banks Blackmailing
Tax Collection is helpful in successful running of any government. People having their digital assets in the form of crypto are omitted for tax. For maximum tax Collection, governments want to play the role of third party.
Privacy Hijacking had been the role of governments. Being third Party, governments want to trace each transaction done by any person. In my homeland if someone without any job done any transaction more than 0.5 Millions, they always received notifications from FBR. On the name of corruption free Pakistan, they are manipulative in privacy of people.
Banks Blackmailing is the third and big factor for anti crypto role by any government. Banks and Crypto can never be on same page. Crypto opposes third party role in money dealing while banks are supportive and play the role of third party in money dealing. They provides transaction details to governments. Moreover, banks donate funds to governments by collection of transactions charges from the bank account holder. The banks provides black money to the government officials who have anti crypto role.
Although, governments in many countries are putting bans on cryptocurrency but still there is more than half population of young people who are directly or indirectly involved with crypto. Government should accept the reality and bright future of crypto. Crypto can generate revenue for governments. In my homeland about more than half young graduates are free lancer. They earned their wages in the form of digital assets. If governments introduced a safe crypto exchange then it can earn a big revenue from the fee of each crypto to fiat exchange. Moreover, government can engaged young graduates in trading and other safest Defi projects by giving loans and can collect interest from their earnings. It will reduce unemployment pressure on youth and bring a big revenue for governments.
Conclusion
Governments and Crypto should be in Synchronization. Anti-Crypto role should be discouraged to educate people about cryptocurrency. In most developed countries, crypto regulation is helpful in generation of big revenue. One good economic structure for crypto can generate job opportunities for freelancers. In my homeland, once people were against crypto. Now, I 'm glad to see people are changing their approach for cryptocurrency. Moreover, they are putting pressure on governments for cryptocurrency regulations.
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