Tuesday, December 3, 2019

Would an Intranet for every Country kill Cryptocurrencies?

After the events that happened in Iran ( complete internet blackout that lasted for 2 weeks ) I am very worried for the future of cryptocurrencies considering the lengths that some totalitarian governments are willing to go to stop them. If each country suddenly decides to have its own "whitelist" intranet, this would certainly damage the usability of cryptocurrencies, including Bitcoin. coincidentally the price drop of Bitcoin happened around the same time that Iran's internet was blacked out. many Iranians have mining operations or own cryptocurrencies and use them to trade with other countries instead of carrying cash. but during the 2-week blackout, everything stopped.

If you are interested, I wrote this medium article that explains Iran's Internet and how cryptocurrencies could help its people and why a decentralised internet is needed alongside decentralised currencies.

Lets debate.


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