RE: Musing Posts

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Musing Posts

in musing-threads •  6 years ago 

First of all the blockchain technology is still struggling very hard to be accepted in most countries like Venezuela not to talk of even being included in the financial system and why is this? The truth is it will be definitely be difficult to because the blockchain technology will be a direct competition for fiat currency and in the long run it may even knock out fiat currency and the government of most countries are very sceptical of this fact, as a result they kick against it.

The second reason will be that the financial sectors of countries will need to follow a whole lot of processes like making it legalised by presenting it to the legislative hearing which will need proof of why they must legalise the blockchain financial systems, will seems to be varying and unpredictable, not stable as fiat currency and as a result may affect the financial sector of a countrybecause it's still not being accepted in most countries as a result of this, the motion may be kicked out in a public hearing.

Yes you're right countries like mine are considering it, but they fear the unpredictablity may affect things like national budget, estimated project funding that may happen in the long term.

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