What is the purpose of educating regulators about blockchain technology and its applications?
The best defense in difficult times is education.
With all the goings-on around the Tornado Cash case, alarm bells are ringing again for crypto enthusiasts.
I don't know how aware you are of it and if you think it will affect you.
So, if you have any doubts, here at read.cash, being trending news, you will find articles dealing with the topic.
In that sense, I will try not: "it never rains, but it pours."
Actually! I am interested in digressing a bit about the supposed naivety of wanting to influence institutional regulators and policymakers and allow the free development of the crypto-verse.
O, what irony! The crypto revolution was inspired by the ideals of the cypherpunks and factually initiated by Satoshi Nakamoto. Now, have people who indirectly want to pact with the holders of the regime.
Well! I do not assure you that they are animated by evil intentions. But they do a disservice to the original cause.
But tell me, what do the guarantors of the current monetary system want?
I know you are not stupid!
Yes, you hit the mark: to maintain control over issuance and how people should spend their money.
By the way, Tornado Cash is a smart contract in Ethereum that allows you to shuffle transactions to prevent them from being traceable.
In that sense, the purpose of the smart contract is to grant the privacy you don't have by recording the transaction on a public ledger on the blockchain.
Yes, this is the real crux of the matter. It cannot be directly controlled. Then, the method of terror and making it illicit is the logical behavior of one: who is afraid of losing power.
Now, some non-profit cryptographic foundations play the card of promoting the one of educating those who attack. Because (supposedly) they have no confidence in the emerging crypto-currency system.
Do not be delusional in the goal of generating confidence in the elites. They are not stupid or ignorant of blockchain and related technology. They are just buying time to set up the next generation CBDCs.
I can share the idea that total crypto-anarchy is not the answer and favor the pragmatic ownership stance. But let's face it, who in the right mind would demand respect from the oppressor?
I imagine the debate in the Cash Fusion developer team of Electron Cash around the possibility of meeting the same fate as the arrested developer in the Tornado Cash case.
No one is against fighting against money laundering to finance terrorism, drug trafficking, or any criminal activity against oneself.
But it is sarcastic to attribute the illicit use to cryptocurrencies. When more than one knows that the preferred and majority money is fiat: cash is taken to digital in the washing machines of the system they control.
So, instead of trying to educate the elites, let's educate those who need more than ever privacy and freedom to use the product of their labor without being controlled as if they were children.
Sooner rather than later, people end up rebelling against those who oppress them: There is a limit to everything.
An original article by @Jnavedan
The thumbnail by Sergei Tokmakov Terms.Law on Pixabay
Cover image by brands amon on Pixabay
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I think if someone know about than really find or explore the things but no one can do this at that time. Yes we need to educate them