So many people have privately messaged me about this article that I think I need a public post.
BitCoins are a game changer. First time ever, people in the world can exchange value amongst themselves directly. Till now economies and people of the world were fragmented in national lines with governments China and India controlling 1.3 Billion people, US controlling 300 million, EU controlling 500 million and so and so forth.
The marvels of Blockchain and BitCoin technologies have created a unified economy of 7.1 Billion people. Can you imagine how big the banks and insurance companies and creative enterprises will be. It will be huge. And that excites me. We can unleash new creativities of the world at a scale never seen before.
Unfortunately this is scaring national financial agencies as BitCoins is not under their control. But this is technology is out there, and cannot be undone. The Jeannie is out of the bottle.
India is a democratic country. The welfare of its people is the primary role of its national institutions. Over a period of time they will realize the creative potentials of this technology, and being in a democracy, the people will decide on this issue in its right merit. But there be will be scare stories in newspapers, and bumps along the way. This in fact is a sign of a revolutionary technology.
Ranchi Mall is a pure Internet enterprise. It does not have a office or fixed location. All our employees and our customers operate out of Internet. Ranchi Mall is also not an incorporated entity. And that structure makes it very suitable for Internet enterprises.
In the world of Internet and BitCoins, its a free market. You can offer your services without asking for anyone's permission, and consumers have a right to be offered as many choices as they want. Nothing is by coercion. Nothing is by force. Every action is due to pure voluntary associations only. And Ranchi Mall has made a conscious choice of operating in that world.
One of the idea of BitCoin bonds was also to insulate our customers from legal risk. Thats why we do not sell you BitCoins directly. We procure BitCoins in legal jurisdictions of the world. And then pass you on some of the benefits. Any adverse law on BitCoins do not effect our customers because they have procured no BitCoins.
Ranchi Mall will of course innovate and keep on exploring the wonders of this technology.
We believe if values can be freely exchanged, poverty can be eliminated. And this idea is too powerful not to explore it deeper.
http://m.economictimes.com/news/economy/policy/use-of-bitcoin-illegal-can-attract-anti-money-laundering-law/articleshow/57874230.cmsRohit Tripathy
Founder, Ranchi Mall
https://facebook.com/ranchimall
