Government And Bitcoin: Their Mutual Discomfort

There are no limits. There are only plateaus. And you must not stay there. You must go around them.

— Bruce Lee

The topic is the adaptation of Bitcoin (Pending:COIN), the original implementation of blockchain technology, to existing requirements of standing governments, along with the promise of the blockchain technology to improve the lot of the global population through modifications of government enabled by Bitcoin. It is to be expected that existing governments will react positively to the former; negatively, to the latter. But this article considers a surprise exception that may become the rule.

Blockchain’s near-term (about one year) investor significance. My usual focus on implementation of blockchain tech, and the focus of others interested in the technology, as measured by funds invested, has been blockchain’s potential use in transactions and financial record-keeping. In particular, this is the primary locus of the application of the “permissioned” blockchains. Existing, pre-blockchain, transactions technologies, managed by financial institutions and exchanges and clearers through consortiums such as R3-CIV, have invested heavily in this permissioned blockchain tech. This investment is expected to bear fruit in the ever-receding “soon.” For the purposes of the investors that

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