Why Money should be emitted and fully controlled by common people

Lebedev

Lebedev

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Jun 26, 2018
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Government which has control of everything in humans life has been a nightmare of west countries. Most of countries are giving more and more freedom to their citizens, the most important instrument of peoples’ interaction however, remain being fully controlled by government. These are money, which have lost their value after some people have found out that it isn't necessary for money to have equivalent in gold so they could be printed as much it is needed for them.

The decision about that a small group of people can have full control over the financial system led to crysises as well as common people becoming poorer. The only way this problem can be solved is to give control over the money emission to common people and this is exactly what cryptocurrencies offer.

Not every person understand the importance of this, but people are becoming more and more aware of what has been going on. What is more, even some people working for the government supports development of crypto technologies and peoples’ having control over finances that goes with it.

Recently, a SEC inspector Hester Maria Peirce who is famous for her love of crypto industry said that the world financial regulators have to create the best environment for further development of blockchain based technologies.

Why Money should be emitted and fully controlled by common people

One of the reasons why she started talking about these technologies on MIT Bitcoin Expo 2019 is presentation by Gary Gensler other inspector, who is sure in that government must have a legal system for cryptocurrencies which is very strict towards them.

Gary thinks that being in such condition it would be easier for crypto to develop as a financial instrument and payment option for common people.

After that, a short discussion between commission members took place. Hester emphasized on that sides of the deal can regulate each other without need to be controlled from outside. And this is the real usage of Bitcoin - an ability to have freedom, obviously, this giver a lot of possibilities as well as risks. In case of any problem, users of the crypto network will be working hard in order to solve the problem. This is why government can't and won't be efficient in crypto regulations.

Besides, Hester Peirce declared that the official comissio position should become more friendly due to the fact that the situation on the market doesn't make it necessary to be strict. What is more, the same position was told by the commission head.

At the same time, crypto based business shouldn't hide from government, all the exchangers and stocks must have official status of exchange or alternative platform to be able to work with security-tokens and other assets. In this case government will also be more condescending towards these companies.
 
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