sceptically cryptocurrency can solve society’s problems

• There are now around 1,900 cryptocurrencies in existence, and the overall industry is worth at least $710bn.

• Theresa May told the World Economic Forum at Davos, that “we should be looking… very seriously” at criminals exploiting cryptocurrencies, while the US treasury secretary Steve Mnuchin has commented

• The US, in a coordinated international effort to guard against cryptocurrency-related tax crimes and money laundering.

• And so they should. Governments unquestionably have a duty to protect the public.

• The time has come for governments and authorities to realise that cryptocurrency can be a source of hope, not fear.

• The currency generated by the mining machines which have been installed will fund local community projects, making cryptocurrency quite literally an engine for social change.

• The plan has reportedly caught the eye of other cities across the US as an attractive approach to tackling social issues.

• As a result, cryptocurrencies can act as a network facilitating direct financial interactions between individual users, businesses and institutions.

• It would surely give a significant boost to these initiatives, enhancing daily city life.

• If governments can brush aside their scepticism and instead harness the potential of a cryptocurrency industry blossoming before their eyes, they can become partners in making real transformational change.

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