China’s Bitcoin Ban Geopolitical Event

Please fol­low and like us:
Pin Share

The polit­i­cal and eco­nom­ic sun has been ris­ing in the East over the past cen­tu­ry with Chi­na play­ing an increas­ing­ly impor­tant role in glob­al geopol­i­tics. Despite this trend, I have long been skep­ti­cal of China’s cen­tral­ized and auto­crat­ic gov­er­nance struc­ture, and 2021 could be a mon­u­men­tal year, expos­ing the frail­ties of exces­sive con­trol. If Bit­coin proves to be as impor­tant a tech­nol­o­gy as I think it is, then the CCP’s deci­sion to ban bit­coin min­ing could prove to be the biggest geopo­lit­i­cal faux pas of the next decade. In sum­ma­ry, while decen­tral­ized Bit­coin has dis­played its resilience to reg­u­la­tion, bans and decreased the prob­a­bil­i­ty of a 51% attack, cen­tral­ized Chi­na may have hand­ed a crit­i­cal tech­nol­o­gy of the future to its peers.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published.