Decentrilisation

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This topic contains 17 replies, has 2 voices, and was last updated by  James 9 months, 3 weeks ago.

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  • #4883 Reply

    tushar

    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/

    #4886 Reply

    glemiere

    Hans, I get that there are solutions to save your wallet, but those are workarounds, not bugfixes, the 99.99% will never ever adopt it, not viable to me.

    #4887 Reply

    James

    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.

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