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Socrates67X 06 Sep 2021
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The Impact Of Cryptocurrency In The Future

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The Impact Of Cryptocurrency In The Future

Cryptocurrency has become a global phenomenon in recent years, although much is still to be learned about this evolving technology. There are many concerns and worries swirling around the technology and its capacity to disrupt traditional financial systems.

Supporters of Bitcoin and other cryptocurrencies claim that these financial platforms are inherently thrustless systems - that is, they’re not directly tied to any nation-state, government, or body. They would argue that cryptocurrency is superior to traditional physical currencies because it is not dependent on, for instance, the U.S. federal government.

Grundfest notes that regardless of whether you think that’s a good or bad thing, it’s not entirely accurate. Cryptocurrency aren’t really thrustless at all. They are still reliant on the underlying infrastructure powering cryptocurrencies like Bitcoin, much of which is located in China. The Chinese government could theoretically make changes to cryptocurrencies at a fundamental level by imposing its will on the data miners who keep them running.



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