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Bitcoin Transcends Borders, Creates Truly Global Economy... has blockchain technology the ability to end the concept of government?

Bitcoin Transcends Borders, Creates Truly Global Economy

Because most economic transactions in the past have dealt in traditional currencies, which are issued and controlled by governments, commerce usually pays strict attention to national borders. However, according to Pétur Árnason, Chairman of the Auraráð foundation, this is beginning to change thanks to blockchain technology....

Marco Montes Neri, founder of mobile payments platform, has seen Bitcoin and blockchain technology surpass borders to a great degree, calling it a “regulatory agnostic.”....

For Susanne Tarkowski Tempelhof, founder of Bitnation, Bitcoin’s borderless aspects represent something much greater than simply easier international transactions......

according to Tempelhof, the power of blockchain technology has the ability to end the entire modern concept of government.

Tempelhof concludes:

“As the final frontier, the blockchain in many ways replace the need for governments, if we consider government's most important role according to the ‘nightwatchman state principle’ as security of private property, and jurisdiction. I do not believe it will remove the need for human interaction - to the contrary. But it will remove the need of relying on centralised entities like nation state governments.....

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1 comment:

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