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Title: China regulation - authoritarian regimes and blockchain Post by: jrfsl on September 05, 2017, 02:11:24 PM So China's temporary ban on ICOs dragged the whole market down. It got me thinking about strong, authoritarian states
and blockchain technology. Can an authoritarian government whose instinct is to centralize power really take full advantage of blockchain? I am pretty new to cryptos, but one of the advantages that everyone talks about is decentralization. If nearly all economic and social functions in society are to be carried out by blockchain, doesn't it mean that governments will lose their power to control people? Can authoritarian governments just create and control all blockchains in their country and reap the economic advantages of the new technology? Or is there something inherently subversive and revolutionary about blockchain that will destroy power-hungry, centralizing governments for good? |