Blockchain in general is going to hurt the elites...those who exercise power over the general population.
The banksters are the prime targets over the next 5 years but these social media giants are also in the cross hairs. STEEM is already laying the foundation of what is to come. In 5 years, there will be tens of thousands of blockchains which are going to collectively have an impact on many facets of society.
The existing power structure has a right to be nervous and lash out like they do. In the end, it creates a situation where they might have to give up control...something that havent had to do for decades.
I believe they are actively thinking how to outsmart the upcoming events and the blockchain think tanks. We will see what they aare going to do once the shit hits the fan :)
I agree completely. There is no way they are going to sit back and let the power structure be swept away from them...at least not without a fight.
We are obviously seeing the first wave of it with the media attacks on crypto by the usual suspects. Next up will be hardcore regulation (in an effort to maintain control). When that does not work, I do not know what they will turn to...but it will be something.
I think that a lot of the countries will do the same as Japan. Embrace the technology and just collect tax while they can. People are going to love it, governments even more, until something doesn't fit anymore.
I agree...the smart ones will.
Although I said that for years about the pot issue in the US...why not just legalize it and tax it. Since 90% of the people tried it, according to the surveys, stop with the prohibition and make some money.
It is finally coming, albeit slowly.
So you are right, smarter, more agile countries will probably embrace it. Heck, even Venezuela is looking to this market although they want to control it creating the petro coin.
One of the problems of governments is that they are not built to act efficiently and fast. Thats why they are ages behind progress.
PetroCoin :) That really sounds like someone influenced them more or less.