Cryptocurrencies are structured in such a way that they can curtail lousy governance, which is a bit of good news in this current trade war between China and the United States which tend to implicate other countries.
Cryptocurrencies are distributed globally without constraints from central authorities, and this is beneficial as the current political climate cannot stop transactions.
Cryptocurrencies, a form of digital assets utilizing cryptography in securing financial transactions, function as exchange mediums. Cryptocurrencies are part of the technological innovations being witnessed in the present age.
The dominant cryptocurrency is known as Bitcoin, and a single piece is currently worth at least ten thousand dollars ($10,000).
Nevertheless, the role of cryptocurrencies such as Bitcoin has been questioned on their capability of triggering a recession. Expressly, this is a short-term investment perspective.
As a result, some quarters have placed cryptocurrencies and Bitcoin in the group of hedges. A hedge is a form of investment used in the storage of value, primarily through the debasement and inflation of fiat money or currency.
Cryptocurrencies potential in stopping poor governance
Stopping bad governance is viewed from the long-term perspective of independence from central authorities.
Decentralization is a fundamental aspect of cryptocurrencies system. For instance, Bitcoin can be viewed as the first prototype to considerable tackle issuance and governance. As a result, Bitcoin cannot be regarded as a central authority of a particular statute.
Bitcoin’s dominance in the cryptocurrency sector has been prompted by the actuality that its circulation is not determined by specific expertise or loyalty, but by individuals contracted together by certain codified laws.
Any person can be involved in cryptocurrencies irrespective of one’s background. Cryptocurrency mining is the process through which they are generated.
Cryptocurrencies distributed governance approach
Cryptocurrencies have shown their capabilities in prompting distributed governance that can be instrumental in triggering trust and value. As a result, centralized governments and authorities are not necessitated.
Additionally, cryptocurrencies can be used in supporting dissent and distinctive views. This is founded on the transactional privacy instigated.
People can also make independent economic decisions through cryptocurrencies, and their revelation to the universe is done selectively.
As a result, cryptocurrencies are distributed globally, and this is beneficial as states cannot enforce various measures or hide transactions as depicted by Wikileaks.
Advances are continuously being witnessed in the cryptocurrency sector. For instance, a young Bitcoin millionaire by the name Erik Finman recently revealed that he was staking on a cryptocurrency developed by Metal Pay.
Moreover, the trade war taking place between China and the US has enhanced Bitcoin value.
Bad governance affect schools
There is an increasing intervention by the state in school affairs has led to a dispute on the areas where new intervention is proposed and to an acceptance of whatever intervention has so far occurred as natural and unchangeable.
Curtailing schools’ budget or teachers’ salaries in favor of more pressing national issues such as military expansion has always been a bone of contention among various stakeholders.
What the blockchain offers is not a pot of gold at the end of the rainbow but a process by which mass adoption could make democracy work for all, a balancing of the equation between sellers and users, on a transparent platform.
Perhaps the reversal of fortunes of governments, the trend toward collectivism, offers an opportunity to re-examine the existing activities of government and to make a fresh assessment of the activities that are and those that are not justified.
