How Does Crypto and Block Chaining Affect Geopolitics?
The world is a constantly changing place – and economically, things are changing dramatically. The two great superpowers, the United States and China, have been buried in a dramatic trade war, where tariffs are applied throughout the goods, fueling uncertainty for consumers and businesses and making everyday products more expensive. The United Kingdom is still involved in a scattered divorce from the European Union, and Russia is experiencing tension with its Western neighbors.
This whole geopolitical drama has two effects. First, it can cause major damage to markets, erasing billions of dollars from the value of large companies and affect employment rates in world economies. Secondly, it encourages some enthusiasts to play a bigger role in the economy and crave passion for crypto and block chains. They say it can help reduce borders and make international payments faster and cheaper while promoting trade between countries.
However, the crypto and block chain also create new geopolitical challenges. North Korea claimed that a sophisticated hacker group had launched a cyber attack on neighboring South Korea and other major markets in Asia. Millions of dollars have been lost and every event has shaken the consumer’s confidence in the essence. India is also determined to decide to move forward with a crypto ban. This could have consequences for Facebook likes, which he hopes to make a stable money that will benefit banking. The Libra project is also creating tensions around the world, and many countries – the US and the EU – are worried that the crypto currency between them could damage the traditional payment infrastructure and overcome the dollar and the euro.
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One important thing that keeps the crypto currency back is a discrete, fragmented approach to regulation around the world. While some countries, such as India, adopt a challenging approach by offering prison sentences for those who use these coins and tokens, Japan and Canada’s tastes are retreating even more – encouraging innovation, paying taxes using Bitcoin, and thus enabling new encryption products to be released on the market. First, they are called “regulatory sandboxes ği in which a small proportion of the population can be tested.
As for the attitudes surrounding the crypto and block chain, there is a real and immediate distinction. In some countries, there is an incredible attention that surrounds this technology for fear that it may have a detrimental effect on sensitive consumers. However, there are politicians who fear the negative attitude towards industry – people who believe in their potential and believe that their country should be at the forefront of innovation.
In part, the desire for a pro-crypto stance lies in the fear that some countries may start to develop their own central bank digital currencies and be concerned about early sovereignty. One of these countries, China – has begun to accelerate the use of block chains quickly by order of President Xi Jinping.
What’s the future?
Reading tea leaves is a challenging task to find out what the future is for crypto and block chains. Will China gain dominance and will a central bank issue digital currency? Will India be successful in banning the encryption currency? Will Russia succeed in seeking law enforcement officers to seize Bitcoin, and is this possible?
With so many unknowns, conferences have gained popularity as a way of hearing the valuable views of some of the best-known practitioners in the crypto and block chain industries. One of them was held in Switzerland between January 15-17. Crypto Finance Conference taking place in the city of St. Moritz.
The organizers of the conference say that each session is committed to responding to the personal needs of the participants. To this end, some of the keynote speakers of the event will take time to answer questions both on stage and on stage. Delegates are also offered extensive networking opportunities that give them the opportunity to engage in specific interests and build meaningful relationships.
The program is still under development – but there are already a number of sessions that concern those who will look closely at the geopolitical developments in the sector. The first day will explore the global impact of crypto and block chaining and make predictions for the future. There is no doubt that the talk about the evolution of central banking for everything from Bitcoin to Libra will explore the attitude adopted by countries around the world. Tales from the global regulatory front will also be shared.
When the crypto and block chain constantly hit the headlines and battles it fought on many fronts, there will be much to discuss when business visionists land on one of Switzerland’s top resorts.