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It's not wise to ban Cryptos

 The sensation phenomenon of internet made the breakthrough when it decentralized the system of communication globally. The restrictions and number of processes made lot of people to be resistant in communication. Especially written communication. The restrictions that were put forward was an actual mean of censoring. End to end encryption is completely unethical and least practical method. People are so keen about the words that are allowed to put. It made the free conversation worse. Recipient receives the letter after going through multiple hands. But what internet did was amazing. It made the third person powerless and made the free speech more fertile. It changed everything. Communication became more easier and encrypted. Now encryption is taking around everything, making it more secure and easy. The most widely popular and changing field of which encryption is in highly demand is the currency field.

As like the process of post transfer in letters, there are multiple threats that’s been wandering around. This is lot more frustrating. This led a lot of bright mind to find a solution. With the help of digitalized tools, they cloned the version of paper currency. Yet the mainstream concern has not solved. Still it takes frustrating effort to make currency transfer. From one currency to another has to be done with government registered organizations. The only easy is there is no longer to carry papers. Yet request has to made and enquiry is inevitable. This is not smooth transfer. This kind of transferring even refrain some people to go other illegal way of transfer. It is a threat to the economy and to the government. They might loose multi-billion dollar in tax if people were to go illegal. Even if they go illegal without depending on government it is a threat. This is what most of countries ere afraid of cryptos.

  Cryptocurrency already made its take on the field of transferring and how business has to be done. Lot of organization and people accepted this new mean of transferring because of the easiness and universality it provides. This is a concern for not only government, but to a lot of people working in public sectors. Especially the people working is financial sector such as banks. Cryptos are great threat to banks. If people came to know about the beneficiaries of these crypto currencies, they would probably migrate. This provides a great offer which is similar to what email did to communication, encryption and decentralization.

  Tax is no more concern since there is no third party access. Transfer is super easy and trusted. Because of its threat in creating unemployment, some countries are force to ban Bitcoin, which is most popular and one of the first crypto. The only reason they are stumbling upon making this decision tangible is the fear of being left behind. There are muddling around employment and growth. Now the world is like now or never. Apart from the fact of making inflation a less concern, this is making much more than a currency. The concern of the governments isn’t about loosing control over people in transaction, they are afraid of the scenario change in illegal transaction. Buying gun and drugs is no good for anyone. Yet the popularity is soaring behind. It is believed that one eighth of the population might migrate to Bitcoins by the end of this decade. That is one billion and it’s huge. The growth is clearly evident and exponential.

Because most tech giants believe that this could alter the way we used to think of money. It is worth giving attention to. No one likes to get left behind. Like currencies there are multiple options available for Cryptos, which gives people an access to options. The effect of power is now clearly visible in the altering rate of cryptos. A powerful person with mass following can manipulate the way it is getting traded. Elon Musk is no different. Since these billionaires and giants are largely optimistic about the future of new money, no country wouldn’t go first-hand ban. These people are making as much as possible effort to publicize crypto transfers, which to an extent bringing results. The currency exchange rates might get divert to Cryptocurrencies with no organization to regulate. This could be a milestone. Yet the concern should not be avoided completely.


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