Dictators using blockchain - threat to democracy? - page 2.

Psynthax

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Quote from: kriptokraker on May 07, 2018, 08:23:34 AM

Some blockchain technologies support dictatorships around the world, thus help them evolve. For example, NEM was involved in creation of El petro in collaboration with Venezuelan government, which is obviously a dictatorship, and gained support from non-democratic Russia. It also tries to establish blockchain in failed states, such as Abkhazia, and Armenia, where political stability leaves much to be desired.
Is it ok for dictators to possess blockchain or is it an obvious threat to democracy? What do you think?

It is ok in my opinion, you should have seen not only dictators but some democratics were using blockchain to develop the more transparency. It's not a threat to the democracy but as far as i know just like petro and it has the purpose to raised the dollar to be the reserved funds for venezuela, blockchain just act like a money machine.

kriptokraker

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Quote from: mpufatzis on May 09, 2018, 02:53:16 AM

Digital coins, altcoins, and blockchain technology is the future in financial transactions. The fact that they use it, doesn't mean that they are visionaries. They would like probably to avoid the economic exclusion, as Venezuela did with El Pedro or as the bank institutions would say, to laundry money. Venezuela is a big oil producer, but due to the embargo can't sell it. Cryptocurrencies could be a resource.

I agree that it's technology of future but the fact that anyone could use it to launder money or whatever bad purpose kinda bothers me

Bttzed03

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Come on, please leave democracy or dictatorship out of this. Everyone is free to use or promote the technology. It does not matter which country or which leader.

aviven

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Quote from: mpufatzis on May 09, 2018, 02:53:16 AM

Digital coins, altcoins, and blockchain technology is the future in financial transactions. The fact that they use it, doesn't mean that they are visionaries. They would like probably to avoid the economic exclusion, as Venezuela did with El Pedro or as the bank institutions would say, to laundry money. Venezuela is a big oil producer, but due to the embargo can't sell it. Cryptocurrencies could be a resource.

For Venezuelan leader Maduro El Petro is just an instrument to overcome sanctions, too bad that this might be a factor which contributes to his political position.

hiddenmist

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Quote from: kriptokraker on May 07, 2018, 08:23:34 AM

Some blockchain technologies support dictatorships around the world, thus help them evolve. For example, NEM was involved in creation of El petro in collaboration with Venezuelan government, which is obviously a dictatorship, and gained support from non-democratic Russia. It also tries to establish blockchain in failed states, such as Abkhazia, and Armenia, where political stability leaves much to be desired.
Is it ok for dictators to possess blockchain or is it an obvious threat to democracy? What do you think?

Blockchain technology has nothing to do with democracy. Anyone can use it on good and bad purpose. If you try to restrict it then it is not democracy at all. Democracy is US is not democracy at all. They have many new laws that contradicts democracy.

Clara.Wilfred

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Quote from: kriptokraker on May 07, 2018, 08:23:34 AM

Some blockchain technologies support dictatorships around the world, thus help them evolve. For example, NEM was involved in creation of El petro in collaboration with Venezuelan government, which is obviously a dictatorship, and gained support from non-democratic Russia. It also tries to establish blockchain in failed states, such as Abkhazia, and Armenia, where political stability leaves much to be desired.
Is it ok for dictators to possess blockchain or is it an obvious threat to democracy? What do you think?

Bollocks, and sorry for coming off strong. I think the countries trying to utilise cryptocurrency are doing so to get around the crippling sanctions placed on them by the west. How is it an ok thing to punish citizens of a country for the actions of their leaders? The only people effected by sanctions are the poor. Seems pretty counterintuitive to me

alian17

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According to my point of view. The creation of encrypted money is not to be pursued by banks and government agencies. For example, criminals. Hacker. And so on, all through encrypted currency to avoid sanctions. This is the essence of the encrypted currency. So when a country can use the encrypted currency to get rid of its current predicament, they have no choice but to issue their own token.

mpufatzis

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Digital coins, altcoins, and blockchain technology is the future in financial transactions. The fact that they use it, doesn't mean that they are visionaries. They would like probably to avoid the economic exclusion, as Venezuela did with El Pedro or as the bank institutions would say, to laundry money. Venezuela is a big oil producer, but due to the embargo can't sell it. Cryptocurrencies could be a resource.

jgaltt

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I think I stated my view not quite clear. But what meant is that by endorsing them, they give ductators positive image and an air of being progressive when in fact their system is rudimentary and no real development is possible without democracy

jgaltt

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I think that even if platforms such as NEM don't support them, dictators still can can access cryptocurrency and make money on them, without affecting the world anyhow. Another question is whether it is good or not when such companies officially support dictatorships and even kinda endorse them. It's like releasing a killer from a cell and giving him a weapon right into his arms

3kpk3

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Interesting question. If banks cannot stop Bitcoin, why do you think dictators can stop it? Do you think dictators like the North Korean general are not involved with crypto? It is very likely that many world leaders have been involved with crypto as whales for quite sometime, but they do not state their involvement for obvious reasons. They manipulate the cryptocurrency market whenever they feel it would be profitable for them. At the end of the day, dictators are also simply investors and I do not think they pose a problem to the crypto market and blockchain.

kriptokraker

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Some blockchain technologies support dictatorships around the world, thus help them evolve. For example, NEM was involved in creation of El petro in collaboration with Venezuelan government, which is obviously a dictatorship, and gained support from non-democratic Russia. It also tries to establish blockchain in failed states, such as Abkhazia, and Armenia, where political stability leaves much to be desired.
Is it ok for dictators to possess blockchain or is it an obvious threat to democracy? What do you think?

Topic: Dictators using blockchain - threat to democracy? - page 2. (Read 177 times)