If this goes through, the "Gyeongbuk Coin" experiment will be a nice primer to see how a real world economy interacts with a fully crypto economy. Will be keeping tabs on this development for sure. Also the fact that they are thinking to start with "...making the identity cards for 5,000 government employees like Zug as blockchain-based digital ID cards." is a major step in the right direction.
Frankly, in the midst of all the news about policy uncertainty, this is such a great thing to read.
Policy certainty has never been required. Neither has centralisation. Bitcoin was designed to evade any policy, and decentralisation was one important way that resistance from interference (policy or otherwise) was bestowed to the Bitcoin network. You're completely wrong
Well, the cypherpunk dream that BTC originally started out to be seems far away. It's all good and nice to think that policies can be evaded. But to be realistic, I don't think we can completely do away with it. At least, not in the short term (10-15 years).
For example, in India we had a difficult time adjusting to the ruling that barred banks from crypto transactions. We certainly needed policy certainty to convert our fiat to crypto. It was a tough phase with the Central Authorities coming down hard on fiat/crypto trades through traditional routes. Let's step out of utopia for a second. There will always be some need for policy certainty. 100% policy evasion and decentralisation is good to have. But a fair balance is more realistically achievable at the moment IMHO.
I think it will be a slow and steady progress from policy to less policy and finally to no policy.
And I'm in it for the long haul.
