The Crypto Fiat test ? It’s in the news !
Another news today, like so many before it..
“Crypto currencies yet to pass test of fiat currency”,
as quoted from govt statement and highlighted in the newspaper.
Well, Should it ?
Just think of the headlines.
Dogs do not pass the test for being Cats. Or
“Water” does not pass the test for being “Land”.
Well, Should it ?
So what do we do?
So, obviously, Treat/Use/Manage/Do Business/Consume/Regulate/ with Water like Water,
and use or manage with Land as Land.
You can live, grow, farm, distribute, consume, buy, sell, regulate as much with Land as you can with Water.
But Don’t confuse one for the other.
Land and Water are not the same even if you do similar things with it.
It is the same with crypto.
Crypto is a profound technology, not to be confused with paper currency, or even exactly with fiat.
Cryptocurrency, as programmable money, is just one particular application of blockchain.
which is still in its development stages and finding new use cases everyday.
And further within the crypto realm, there are and will be hundreds, if not thousands,
of use cases and apps which will radically change the way we think of money, value, finance.
A note to some of our dear govt Babus,
It’s not a time to be afraid of new and lock ourselves out by deterrant policies , rather upgrade ourselves to embrace the new, understand it and use it for what can be done with it.
Change that perspective, Change the vision
A simple idea and suggestion to the govt.
Currently, crypto developments are somewhat limited because they are done by individuals or small groups using their limited resources and with some public participation.
How about doing this on the government mega scale? The govt could start by creating vast and mega crypto solutions that can be let out very very profitably to other countries and nations.
How about accelerating this by opening thousands of crypto+ finance Labs and schools and other institutions all over the country,
thereby using the fruits of the local innovations for large scale benefits ?
Hope this sinks in with someone who is not myopic and has vision and the ability to act positively.