Original:
https://www.quora.com/What-will-be-the-impact-of-Bitcoin-on-the-economyDifferent countries have different opinions on this, some countries have declared it illegal, and many countries have no policy or intention to regulate Bitcoin. Many governments may not like the idea of not being able to track identities related to the transactions, there are already apprehensions about use of Bitcoin by drug cartels or the incidents like wannacry ransoms.
Bitcoin definitely has created many parallel economies/eco-systems, It has potential to throw some big companies out of the business. It may serve as an alternate medium of exchange for countries in turmoil. But I don’t see any good reason for it to replace the currency or central bank.
Copy:
Different countries have different opinions on this, some countries have declared it illegal, and many countries have no policy or intention to regulate Bitcoin. Many governments may not like the idea of not being able to track identities related to the transactions, there are already apprehensions about use of Bitcoin by drug cartels or the incidents like wannacry ransoms.
Bitcoin definitely has created many parallel economies/eco-systems, It has potential to throw some big companies out of the business. It may serve as an alternate medium of exchange for countries in turmoil. But I don’t see any good reason for it to replace the currency or central bank.
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