“In this age, in this country, public sentiment is everything. With it, nothing can fail; against it, nothing can succeed. Whoever molds public sentiment goes deeper than he who enacts statutes, or pronounces judicial decisions.” – Abraham Lincoln
The crypto space is getting regulated more and more, and will continue to as the market cap rises and institutional attention increases. Obviously blockchain technology, due to its potential to optimize record keeping and data collection, faces resistance from the status quo. If you tried to tell an unfamiliar person about cryptocurrency, whether it be from an investment, industrial, political, or any other angle, you likely will encounter skepticism or bias. The only way I see how to placate any public suspicion is to help clarify what blockchain can do, without overstating it or understating it.
Legislators and regulators effecting blockchain’s potential uses will get pressure from vested interests, but as Lincoln’s quote points out, the public sentiment goes deeper. To speak candidly, the more of us “minnows” who try to understand the vocabulary surrounding blockchain, and teach others of its potential uses, the better chance we have to see regulation that takes into account the public sentiment.
Please leave in the comments your thoughts, tips, or any reading recommendations, whether they be precautionary or optimistic. Thanks for reading!
I don't think it is a problem. even bitcoin is controlled from 3 companies in china
Thanks for comment - just to be clear, you're suggesting that blockchain proponents will advocate for favorable legislation/regulation, and they are enough to stand up to obstructionists/detractors?
Yeap, they will follow the crowd. votes is all they care if there is enough hype.
Good post. Important to maintain a bigger perspective during big hype cycles like right now.
A good precautionary voice is @kingofdew here on steemit.
Thanks, appreciate the rec and resteem!