CRYPTO CANNOT DIE!

It is 2023 and there are still people in the world who think a trillion-dollar industry will go to zero just because the US government is playing politics with crypto. They had the chance to do this a decade ago when the industry was nothing to write about. Now cryptocurrency is at the core of the development of alternative financial systems powering new tech startups across the globe.

The SEC cannot destroy crypto even if they tried. Also, some of the major holders of Bitcoin are US citizens/businesses with new entrants like BlackRock coming into play. The SEC does not want to end crypto, they want to control(regulate) it. So the idea of crypto being banned sounds far too archaic to me, but it goes to show how many people still view this industry and the world in general.

The government vs crypto.

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When most people speak about crypto laws they do so in a vacuum. As much as governments across the world have the power to make laws and policies, these said laws must align with the will of the people or it would be difficult to regulate. Think about some of the illicit drugs today and the stagnant laws around their purchase and consumption, you will agree that that has not deterred a lot of people from using or selling this substance despite it being illegal. The same can be said about crypto, despite it being a force for good and positive change.

In 2020 there were very ambiguous laws around crypto in Nigeria. The Central bank had restricted commercial banks from processing crypto transactions. Bank accounts were blocked for having any link to crypto. However, crypto is still thriving in Nigeria. Why? Well, this is because of mass adoption. Most young Nigerians have adopted cryptocurrency. It has become a fertile ground for some of the best minds to grow and actualise their dreams by contributing to the global community.

Decentralised Autonomous Communities.

This might seem farfetched but I strongly believe that governance will be revolutionalised in our lifetime. Yuval Noah Harari wrote about this extensively in his 2016 book Homo Deus. There will be a shift from centralised governance to decentralised governance which will cripple these centralised establishments and their strongholds. Many do not see how this will happen the same way many of the so-called experts never saw the crypto industry becoming a trillion-dollar industry but that does not negate the fact this prediction is already taking shape with the rise of DAOs and AI.

The revolution has started. Across the globe the masses are yearning for better governance; people are moving away from the established centralised institutions. Although many do not know where to go or how to organise because they are stuck in their web2 mentality and have been infantilised by the system, sooner or later this will change.

As DAOs become popular, more people will exit the traditional system and organise in ways that protect and support members. Also, countries that embrace cryptocurrency will become new hubs for technological advancement. This is already happening as we speak.

Conclusion

People need to understand that the crypto industry is not controlled by the US government. They do have the power to influence and stall the growth of the industry but eventually, it will peril. If not for anything but the strong demand for cryptocurrency in the global south which makes up a significant part of the world's population today, most of which are young entrepreneurial minds that are open to the possibilities Web 3 offers.

Crypto has gone past the point of no return. I dare say it is too big to fail. It can only suffer setbacks which I believe is good for the industry to filter bad actions and trigger innovative solutions to protect the ecosystem from the crypto government of the world.

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