Freedom equals prosperity, too much regulations equals poverty said Tim Draper on a recent interview on YouTube. We have all observed the governments turning away people from investing and adopting this new amazing Blockchain technology and the crypto-currencies that came with it. There has been a lot of uncertainty being created by regulators, spreading fear and slowing down the development and adoption of the Blockchain technology.
As a millennial and IT professional I know this is the kind of technology we need to introduce and work on in this century. Coming from college full of debt and a world where degrees no longer work and what is taught in school is not applicable anymore we have to agree that there is a need to shift gears. A lot of talented people given a chance would create jobs for themselves improving this technology as it evolves solving real life problems. The huddle is that the people who should be guiding them are the same people who control the world majority in their 70’s and 80’s too scared by change and losing power of what they have been able to manipulate, dictate and make money from. Driven too much by greed instead on focusing on a better world for their grandchildren and descendants.
Those countries that are trying to over regulate the technology are setting a path of poverty for their citizens. Tim Draper and Brian Kelly compare this technology to the internet in the 80’s. Those countries that were early in the game built a good platform for its population and a foundation to create wealth. Now what we are realizing is that the freer the internet is the more wealth is created in society. Lesser regulations and governance has proved success for a lot of private companies and entrepreneurs.
Let’s rethink all these regulations before we slow down a force that cannot be reckoned. Its unstoppable and it doesn’t matter how long it will take the government to come to term but it will eventually penetrate each and every part of the world. So why wait?