A known misconception with regards to blockchain realm is that, it is just purely about technology – nothing more, nothing less. The systems begin and finish with human interactions. In cryptocurrency environment, this phrase is totally understandable but the true challenge is making others mindful about this technology and existence. At the same time, the fact that it is not solely based on cryptography as well as algorithms.
Though there are those who use the best crypto trading bots online to increase digital currency, still part of the process is to educate others about it.
Back in the early days of cryptocurrency, it is noticeable that one critical concern to be addressed is bringing it in front of government regulators.
Unless this does not get government’s attention, blockchain technology will be kept in the dark.
We had to become part of this discussion in order to educate such individuals. After all, they are the ones who have the power in stifling innovation and regulating crypto out of existence.
Data Management, Privacy and Security
There’s no entity that’s more concentrated on how data and security is handled than the government and its branches. The main objective of the government is to assist its people which are the very reason why there are laws. These laws are designed and thought thoroughly to enforce the proper handling, storage and collection of data. But of course, no process and system is perfect.
Government’s Sentiment and Motivation
Before, blockchain technology and cryptocurrency was decentralized. Meaning, there’s no specific regulating body that is handling it. Those were truly the tough times as companies ought to navigate through a minefield where government entities are trying to keep tabs with the regulations and rules that were no near applicable to the industry.
These days, there are of course some difficulties associated in crypto environment. However, since there are regulations being formed, these challenges are more manageable to handle and overtake. So to assure that the regulators can get it right, some of the pioneers are fighting hard to have a seat at the table along with traditional currency.