RE: Russia, Singapore, and China are developing national cryptocurrencies - here's an in-depth look into what to expect next.

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Russia, Singapore, and China are developing national cryptocurrencies - here's an in-depth look into what to expect next.

in cryptocurrency •  7 years ago  (edited)

:) I appreciate the support! Among a (heavily) libertarian crypto sector, collaboration between states and crypto doesn't get much attention. The goal is generally freedom FROM institutions, not adoption BY institutions. But in my mind nationalized crypto will be the biggest game changer (as in: have the most disruptive effects).

My biggest concern, which I touched on glancingly, is the increased fragility from a software-based system. We've pretty much ironed out the kinks in a hardware system (printed USD; proprietary banking solutions hard-wired and encrypted from Bank A to Bank B) so thefts are difficult. This software solution will have a HUGE attack surface, and any chain developed by a nation-state will be brand new. Scary but exciting!

cryptocurrency
7 years ago by

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