It’d be incorrect to say that we don’t know much about cryptocurrency. It’d be a blatant lie to claim that what we do know about cryptocurrency is good. Realistically, our knowledge of the innovation’s impact is disheartening.
The first form of cryptocurrency, Bitcoin, was circulated in 2009. Initially, Bitcoin, and other digital coinage, appeared promising, intended to limit government power, eliminate middlemen and provide equal opportunity for profit.
However, it’s proven to be quite different. Over the past decade, we have watched cryptocurrency’s volatility disrupt the flow of economy, its anonymity enable criminal activity and the extortionate energy requirements of its “mining” process take a toll on the environment. It’s time to regulate cryptocurrency.
Demand for cryptocurrencies has skyrocketed, reaching a market cap of over $3 trillion….