are we moving away from the main fundamental of cryptocurrency i.e decentralizations in future as more and more countries are banning them and putting restrictions on trading them, it seems that gov is getting scared as cryptocurrency community is growing it could ruin their revenues of taxes etc https://www.investopedia.com/news/uk-authorities-plan-crackdown-bitcoin/
Hi Tushar, there are already pretty strict regulations in the UK. We have to abide by know your customer regulations and have a policy here: https://jsecoin.com/kyc-policy/
We’ve never had a situation where we’ve had to report a suspicious transaction but I’m sure this will eventually become an issue. We fully intend to report anything that could be considered money laundering, this alongside the transparency that our network offers means there are better options for money launderers. Something like zcash that utilizes anonymous transactions would make more sense
Regarding decentralisation I can see both sides of the argument. The challenge will be to build a system that balances some of the benefits of decentralisation while still being consumer friendly enough to reach mass adoption.
While it would be nice if we could educate all users to good security and being technically adept enough to safely use traditional cryptocurrencies I don’t think this is realistic. Either an application layer, something like coinbase needs to be built on top to help consumers or we need something completely different.