Is regulation the Future of Blockchain

webtricks

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Quote from: istake on September 09, 2017, 09:06:20 AM

Blockchain known for its de-centralisation properties. Is staring regulation from centralised government in the face. How will it react. I wonder how such a clash of interests would merge. Will it be good or bad?

There is a difference when we say blockchain technology and blockchain projects.
No doubt, blockchain technology is, was and will be decentralized as no one had and will be able to patent it ever. So you shouldn't fear the future of this technique.
But yes on other hand it is being excessively manipulated by shitty projects.
See what Yahoo62278, a campaign manager on forum has to say about ICOs

Quote from: yahoo62278 on September 05, 2017, 09:01:42 AM

Most of the ICOs I would consider a scam are these fly by night token ICOs. Sure, there have been a few ICOs that offered token payments that were legit but for the most part like Cryptodevil said these guys have a whopping 200$ at most wrapped up in an idea and have no intention of following through on promises. They are offering tokens basically because there's no risk to them this way.

A team spends 100-200$ and gets some wallets made and tokens produced. Then they launch their ICO(paying bounties with tokens) and if they don't make any money they can still pay out tokens and only lose the 200$ investment. Who cares if it gets listed or not in their opinion. If they don't make money obviously it's not gonna be listed. I get contacted by at least 5 companies a week that have this strategy going on.

There is great need to recify this if we wanna see bright future of cryptocurrencies. Regulation can be one solution.

HongKong

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Quote from: istake on September 09, 2017, 09:06:20 AM

Blockchain known for its de-centralisation properties. Is staring regulation from centralised government in the face. How will it react. I wonder how such a clash of interests would merge. Will it be good or bad?

It'll be pretty bad because the transactions on Blockchain can be viewed publicly, having it regulated is worse.

coynedterm

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Quote from: istake on September 09, 2017, 09:06:20 AM

Blockchain known for its de-centralisation properties. Is staring regulation from centralised government in the face. How will it react. I wonder how such a clash of interests would merge. Will it be good or bad?

How can you day that in the future the bitcoin will be centralise by the government because here all of us know very well that why the bitcoin have the success that is the decentralised , no one except the blockchain team can centralise the bitcoin because people are operating Thier money with the internet access , so any rule will not be applicable over the power of bitcoin and against the government rule of any country .
But still here it is truth that bitcoin will be regulate by most of the country because to give the tax to the country by using the bitcoin is a necessary point because we can't make ownself more profitable only but also needed to give the tax for the government use .
Here some rules are going to br made by my government of India , they said that they will declare bitcoin as legal way of payment but at every transaction of investment in trading the user will charged by the better tax amount in % , so overall whether we will make profit or loss , only will give tax for it first .
Hope rules should be better so that we can use bitcoin like we are using currently .

mobnepal

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Quote from: istake on September 09, 2017, 09:06:20 AM

Blockchain known for its de-centralisation properties. Is staring regulation from centralised government in the face. How will it react. I wonder how such a clash of interests would merge. Will it be good or bad?

Government still love blockchain tech and they are working on implementation of blockchain in book keeping and many other fields. Future of blockchain is really bright because it holds lots of potential and provides bullet proof security and uptime.

Government and bankers have fear of bitcoin replacing usual fiat, if this turns out to be reality than they can't print more fiat to increase inflation which will only affect low to medium level citizens who hold their money in banks for low interest rates. Also anonymous bitcoin transactions creates another hurdle for government, they can't suck high taxes from those transactions that's why government is against bitcoin and not opposing development of blockchain tech.

Indrawan77

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It was created to decentralized however there were a lot of pressure from a lot of country to try to regulate crypto currencies, I think there is a big chance that crypto will be regulate by the government although the government cant control it directly but it can be controlled through exchanger and other crypto platform, I think it is bad to have crypto being regulated

pawanjain

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Nothing lasts forever

One cannot simply regulate blockchain. It is a decentralized platform as everyone know it. Although it is possible to regulate crytpo currencies but even that will be applicable to their own country and not others. For example the regulation of ICO in China would implicit laws under their own country and not through out the world unless the same laws are accepted by all the countries. So regulating blockchain is out of the picture in this case.

PauloLuks

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That regulation is being made. And by something that can be called Regtech (Regulatory Technology). I believe it is something more present than future.

dothebeats

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What theyd be able to tegulate is the exchange and trades, but blockchain? How can someone regulate something that's decentralized and runs on differrent computers worldwide? Although trades may be regulated by governments, there are no guarantees that some exchange wouldn't happen underground. Wink

BrewMaster

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they regulate businesses!
when you run a physical shop in real world or a shop on the online world you are still bound by the laws of your country. using a cryptocurrency does not exclude you from those laws.
you can not perform illegal activities like laundering money, and all that crap. cryptocurrencies should not exclude you.

so they regulate things. and it doesn't have to be a bad thing. look at Japan.

BillyBobZorton

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Quote from: istake on September 09, 2017, 09:06:20 AM

Blockchain known for its de-centralisation properties. Is staring regulation from centralised government in the face. How will it react. I wonder how such a clash of interests would merge. Will it be good or bad?

They can't regulate at a protocol level, so "blockchain regulation" is a non sequitur of sorts.

The only thing they can regualte is the crypto->fiat gateways, in other words basically exchanges, and that is all.

Of course, they can try to put government shills on the protocol development by getting rid of the Core devs and putting people like Jeff Garzik instead, which is why we must defeat segwit2x hardfork at all costs.

istake

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Blockchain known for its de-centralisation properties. Is staring regulation from centralised government in the face. How will it react. I wonder how such a clash of interests would merge. Will it be good or bad?

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