OILPRICE – March 3, 3028 (posted ): Cryptocurrency may be one of the biggest threats to governments, security and the entire financial system that we’ve ever seen. And banks see it as their new Enemy No. 1 can’t be fought; it can perhaps be controlled. Banks have figured that out and are bringing crypto currency into the fold.
And this new financial system phase is seen as the new balance of power, funded by cryptocurrency.
“Bitcoin is the catalyst for crypto-mining the way emails were for the Internet. When we first heard about the Internet it was for the ‘dark world’, but with email, it exploded and became mainstream. Ethereum takes crypto-mining further with smart contracts,” Holmes told Oilprice.com
“Cryptocurrencies could become the new driver of international business and financial transactions, and that would be transformative, if not revolutionary,” says Dr. Makarenko, whose consulting firm advises Fortune 500 companies.
The U.S. might be of the same mind—broadly speaking, but it’s moving at a slower pace in the race to control the world’s new currency.
“The U.S. is rightfully concerned about cryptocurrencies, but like anything that may have a negative impact on national security, there are way too many stakeholders that need to be brought to the table to discuss, so the U.S. is not capable of acting quickly,” Dr. Makarenko told Oilprice.com.
“The right conversations are taking place, but at the end of the day, it is in the U.S. interest to secure the value of the global position of the dollar.” Cryptocurrency is stateless, and that is its real power. It can be regulated, but not enslaved.