Help of cryptocurrency in globalization.

[Sanugarid]

The government is not ready to legalize cryptocurrency because they are not ready for a decentralized system, which the government cannot control like a fiat currency. indeed this will be a different matter in different countries. when developed countries are ready to use it, many developing countries still have problems with money laundering in their countries, so this is very risky against corruption by officials

Maybe that is their reason not to legalize cryptocurrency. But I am sure that soon, the government will legalize crypto so their people will have a new payment system besides fiat that they already used. I can imagine that when I buy something in a local store, the officer will ask me what you want to use to pay? Crypto or fiat?

It's not for the government to decide whether they want it prohibited or not, the people will. Laws defined by the constitution are clearly stated, basic rules like no jaywalking is still disobeyed right now, what do you think the government is capable of not legalizing cryptocurrency? They won't affect that much honestly. Merchants are the one you should be educating and promoting the bitcoin to, not the government.

We see that corruption is happening in all countries because the officials want to have money from any sources. But believe me, there will be honest officials that will work for their job, and they will always serve people better than others.

You know what I don't with too smart government official? They are too knowledgeable on how to get away with laws, they have counter part for anything coz they studied it. But I still believe there are ones who are true to their work.

[redsun114]

We do not really need to "legalize crypto currency" in the sense that it would be the main money to be used, we are already allowed to use it, accept it, spend it in many places and even in more places we can trade it. Which means it is legalized in some sort of way. Is it the main option people use? No. But, at least it is a start.

Look at USA for example, they made it legal and even so legal that in Ohio people could use crypto to pay their taxes, I don't know if that started or even happened at all but it is definitely was a talking point for a while. Those type of things will make crypto the main option to use eventually, not now, not in 10 years but eventually it will get more and more and more adopted to a point where everyone uses crypto all around the world.

[sana54210]

For me I would say that crypto currency is something else on its own. There is already that freedom we need, anyone that wants to make use of cryptocurrency can use it whenever they want and they wouldn’t be questioned about it, unless it’s declared illegal in your country; even if it’s illegal in your country, you can still buy it and store secretly and nobody will know that you have Bitcoin, that’s the good thing about it.

People only get to know that you have Bitcoin if you let them know about it or if you’re the type that’s buying from exchanges, they will know about it since they have every info. Cryptocurrency has already brought globalization, you can send money to anywhere around the world to anyone, at anytime you want. That’s the globalization.

[Kasabus]

For me I would say that crypto currency is something else on its own. There is already that freedom we need, anyone that wants to make use of cryptocurrency can use it whenever they want and they wouldn’t be questioned about it, unless it’s declared illegal in your country; even if it’s illegal in your country, you can still buy it and store secretly and nobody will know that you have Bitcoin, that’s the good thing about it.

People only get to know that you have Bitcoin if you let them know about it or if you’re the type that’s buying from exchanges, they will know about it since they have every info. Cryptocurrency has already brought globalization, you can send money to anywhere around the world to anyone, at anytime you want. That’s the globalization.

Globalization has been existing already even before but if cryptocurrency will also be legalized in the whole countries, this will definitely add for more globalization. Transactions will be uniform through internet access and those money laundering will be minimized already because we are already in charge with our own finances.

[TheUltraElite]

Transactions will be uniform through internet access and those money laundering will be minimized already because we are already in charge with our own finances.

Does that not seem too much of an ideal honest people doing honest transactions theme? In other words, it will be not completely that way. Surely blockchain keep the ledge public and money laundering is somewhat prevented, but black market deals are always happening and crypto has been used as a method to avoid taxation and launder money. So it is not ideal and there is nothing currently being done about it. Maybe law enforcement to some extent is working on methods but thats a long story now.

Globally the use of bitcoin is still limited to certain countries. It will take for that to increase in number.

[bitcoinst]

~snip
globalization in monetary system is possible via the help of cryptos and its now happening  and the virus issue causes this process to speed up because like i said earlier there are now lockdowns and quaranties too which disables people to do local transaction just to send or recieve money

If you have nothing to eat, then you will not care how easily you can send your cryptocurrency to another person.
First of all, you will think about where to get food. While people do not go to work - they do not receive money, but continue to eat and consume life support products, as well as pay rent.
If people do not have their basic needs closed, they will not give a damn about everything, including cryptocurrency.