While looking at the local Bitcoin news of the day I ran across this article that I found interesting not because of the subject but a few thoughts Mr. Draper mentioned. We all know that Bitcoin and other cryptocurrencies are rampit across the world and espically in developing countries where one might have issues with their national or even local banks due to government interference and power over their economical standings. However it was his comments on how blockchain could help split California through regulation of It in California to see ways that blockchain could influence our lives in a country like America it got me thinking.
Are we truly understanding off all the benefits of blockchain and how we can use it to better our lives? Or are we simple all at the beginning of a new frontier that we could possible have no idea where it could take us nor the benefits of this technology could bring to all countries. There is a second article Mr. Draper speaks of who will be the most invested in Blockchain intervention which is the government and he provides an interesting argument for this fact. " That could be the beginning of where governments have to compete for us so that their services increase, improve and the costs go down. Your taxes will go down, and your education, and your health care and whatever – it will go up, it will be better."
I happen to agree with this statement when you have competition it seems that the consumer will come out ahead because the company (the government in this instant) wants your business (involment). The possibilities That blockchain stretches farther then economic spheres we could push new technology powered by blockchain into medical or even educational aspects of our life's is highly possible we just have advocate for these changes to occur with the right reasons for wanting these to happen. It is only then that we unlock the potential of Blockchain and bring about change for a better future!
However there is one constant issue that will derail change and that is regulation we must find a balance between what is too much interference and not enough. While also keeping in mind that those that are in a role to regulate should actually understand Blockchain and cryptocurrencies someone that understands the value of this system instead of just writing it off due to their inability to understand the value behind it. We as a collective community must answer the hard question of what is valuable and what is not and stick to our ideas with evidence to back up any claim we make that is the only way any of this will be taken seriously.
For this to happen we should look at how blockchain is regulated and used around the world, it is these examples that can lead to a solid foundation on which we can build our regulations and use on. While this is not to say we should firmly adapt these uses as our own and not build on them, we should make them our own so that we can form them to fit best in the system we use. There is much to learn from both possible regulations and new uses for Blockchain it will be a wild ride for all those involved I just hope everyone is ready
https://cointelegraph.com/news/tim-draper-everybody-wants-to-leave-california