The dystopian outlook on the future
I thought I would take you all along on a thought experiment, and play a little "what if". taking a look at what the future might have in store for us, at least if things do not go so well for crypto. Or maybe if it goes well. I guess it depends on your outlook. =)
Crypto in the "west"
The US is charging ahead, enforcing even more regulations on crypto. This is after the SEC has taken control of the whole Ethereum blockchain. Doing so due to the centralization of nodes that happened after The Merge. Most nodes were now situated within the US. And this led to them being able to claim jurisdiction because most of the transactions were now happening on US soil.
This takeover is being helped by the latest batch of crypto-hostile laws enacted by the US. Among them is the "Right to Transaction" law mentioned above. But also the ban on Proof of Work. This is being done under the guise of it being so "bad for the environment" and with the help of the BIS report published in the middle of 2022.
This part is very real, and I encourage you to at least skim it, it is only 8 pages long
Then there is also the law that regulates all Dollar based stable coins, which has popularly become known as the "out money, our rules"-law.
And while the US is using its influence to spread its claim to crypto along with more widespread adoption of the same, or similar laws. The EU, Australia, Japan, and South America are quickly adopting the same type of rules.
This is while most of Asia, the Middle East, and Africa are under the influence of the New Triple Entente, or simply the NTE.
The US where also able to use the fact that Russia, as the War in Ukraine drags on, switch its stance on crypto. And started to embrace it, as it to some degree helps them circumvent the sanctions placed by the west. This is coupled with all the spare power the country has, and the fact that most Bitcoin ASIC is produced in China. Makes it one of the few things that Russa can get their hands on with relative ease.
The new dark lords of Crypto, the NTE
The Kingdom of Saudia Arabia, China and Russia have ramped up their attempt to dethrone the US as the dominant financial power. And the main way they are doing this is by having created their own reserve currency. The $NTE. And this also has been made into a joint CBDC. Allowing them full control and transparency.
The new $NTE has been adopted by the majority of Asia and Africa as legal tenders seemingly overnight. I guess that is the power of having stockpiled food while the rest of the world is in a financial crisis and starving. Along with a surplus or power they are willing to share.
The war in Ukraine has been dragged out. As the NTE noticed it was a vital key in destabilizing so many countries enabling them to expand their influence. It has also become known as the first "remote war" in history. This is due to two factors. Both sides ended up being backed by parties not directly involved in the war. And as it prolonged in time. It switched to become a primarily drone-based war.
The prolonged war, the global financial crisis, and the food and energy shortages made this the perfect storm. And just like in the cold war, a new undefined battle zone found the EU as its home, again. Here many countries that are feeling the effect of the crisis are caught between "the west" and the NTE. Caught between the need to feed and keep their people warm and what is morally right.
I hope that you have found this dystopian look at the future to be at least interesting and not all too depressing. I at least found it interesting to write, exploring the whole "what if" part of it all. And if you have some similar thoughts please share them in the comment section down below.
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See you on the interwebs!
Picture provided by: https://pixabay.com/
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