BlockFi Progress With Regulators Pioneers New Frontier Of Finance

Crypto enthusiasts often espouse economic anarchy as the future and a coming utopia. Most people prefer regulation to perishing by the law of the jungle, and scams and hacks are a major drag on the adoption of this breakthrough technology.

BlockFi Progress With Regulators Pioneers New Frontier Of Finance 960x0

BlockFi Progress With Regulators Pioneers New Frontier Of Finance 960x0

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The jungle is certainly an efficient landscape for growth but anything that makes even a simple slip-up quickly becomes a predator’s next meal. Few choose to live in jungles; people prefer the manicured environment of highly regulated environments.

Beyond the libertarian dream, the future of crypto will be regulated. Some of us may remember how the internet was said to be impossible to regulate and how no government could pen it in. This turned out to be a naive position. The same goes for crypto. We give governments power to regulate, and they do; if necessary, they do it at gunpoint.

However, new technology cannot be un-invented, and its thermodynamic efficiency ultimately upends less efficient practices that come ossified with all sorts of gatekeepers and their rent-seeking behaviors. The dark side of regulation is that often the regulated vested interests have captured the regulators and will strive to stunt or suffocate innovation. Regulatory capture can be seen everywhere, from presidents that aren’t allowed to go swimming, right down to the petty acts of bureaucratic pettifogging.

It is not surprising that regulatory capture is an issue in financial services where crypto is relentlessly upending the intrenched structure. It is a huge complex with a vast array of powerful stakeholders where crypto is a new natural enemy.

.https://www.forbes.com/sites/investor/2022/02/15/blockfi-progress-with-regulators-pioneers-new-frontier-of-finance/?sh=5260a17935eb

BlockFi Progress With Regulators Pioneers New Frontier Of Finance

BlockFi Progress With Regulators Pioneers New Frontier Of Finance

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