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RE: Why STEEM Cannot Be Stopped: Not By The Banksters, The Government, or Zuckerberg!!!! Another Reason Why STEEM Could Make You Insanely Rich!!!
Good points on the government's declining power and influence.
At this point, the regulators can clamp down on exchanges, but the interesting thing is that as these blockchain networks begin to be used by more and more people over time, more and more economic activity is done outside of legacy financial systems and centralized entities like KYC-based exchanges.
So, people may not even need banks and fiat to conduct business in certain sectors of the digital economy at some point in the near future. The long-term corrosive effects of this trend on the governments' and banksters' finances can't be overstated.
Absolutely @techwizardry.
An app on a smartphone gives a large percentage of the population everything they use a bank for.
It gives them:
A. The ability to store money.
B. The ability to receive money.
C. The ability to spend money.
For many, that is all a bank is.
It will not be long before the masses realize the explosive nature of currency not controlled by a central institution or a few elitists. Ironically, I think the poorer nations will embrace it as a population quicker than the developed nations. Too many of them still believe the MSM telling them to trust the government and the bankers.