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Absolutely agree, but what’s exciting about blockchain is that it makes the network accessible across country boundaries by default. Definitely countries can op
by camjohnson26 6y ago
Absolutely agree, but what’s exciting about blockchain is that it makes the network accessible across country boundaries by default. Definitely countries can opt out by banning it, but the hope is that this interconnection becomes so valuable that banning it has too many negative consequences, just like with the internet.
- olliej 6y agoYou still have to obey the laws of the company you operate in. So if you want to act like a bank, you have to obey banking laws - including all the capital and auditing.
- camjohnson26 6y agoYes but different countries have different laws. The hope is the technology forces the laws to change eventually.
- olliej 6y agoWhat happens is that you need to obey both sets of laws. This is both good and bad. e.g. one country requires you don't allow transactions with terrorists. So neither end can be a terrorist org. additional e.g. one country says LGBT orgs are illegal so neither end can be an lgbt org. etc.