Will bitcoin be the currency of the future
What happens from here will depend a lot on how governments react. Sean Fleming 04 Jul The co-author of This Time is Different: The views expressed in this article are those of the author alone and not the World Economic Forum.
Still, one can will bitcoin be the currency of the future sure that global tax evaders will seek ways to acquire Bitcoin anonymously abroad and then launder their money through Japanese accounts. Carrying paper currency in and out of a country is a major cost for tax evaders and criminals; by embracing virtual currencies, Japan risks becoming a Switzerland-like tax haven — with the bank secrecy laws baked into the technology. Will they create digital currencies of their own? Written by Kenneth Rogoff .
By using our website you consent to all cookies in accordance with our updated Cookie Notice. But it is folly to think that Bitcoin will ever be allowed to supplant central-bank-issued money. Here are three ways blockchain can change refugees' lives Ahmad Sufian Bayram 25 Jun
Will they create digital currencies of their own? Japan, on the other hand, has enshrined Bitcoin as legal tender, in an apparent bid to become the global center of fintech. Here's how Alan Safahi 19 Jun Then you're watching high-performing migrants at work Alex Gray 04 Jul
By using our website you consent to all cookies in accordance with our updated Cookie Notice. Of course, as I note in my recent book on past, present, and future currencies, governments that issue large-denomination bills also risk aiding tax evasion and crime. Some Bitcoin evangelists see it going far higher in the next few years.
The long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates. From diamonds to recycling: Will they create digital currencies of their own?
Written by Kenneth Rogoff. Here are three ways blockchain can change refugees' lives Ahmad Sufian Bayram 25 Jun The long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates. It will be interesting to see how the Japanese experiment evolves. Perhaps Bitcoin speculators are betting that there will always be a consortium of rogue states allowing anonymous Bitcoin usage, or even state actors such as North Korea that will will bitcoin be the currency of the future it.