In true form, Western governments have suffered from decision paralysis in relation to cryptocurrencies. Meaningful regulation of the cryptocurrency market remains a pipe dream whilst average investors continue to suffer at the hands of the crypto Wild West.
It’s time for our leaders to do what they were elected to do: lead. The market cap of the cryptocurrency market is not in the billions, it’s in the trillions, soaring above $3 trillion in the bull run last year. The crypto genie cannot be put back into the bottle, people clearly want digital finance that is fit for the digital age.
James Caan, the founder of the Hamilton Bradshaw private equity firm, is one of the U.K.’s most successful entrepreneurs. From 2007 to 2010, he was an investor on “Dragons Den,” the British version of “Shark Tank.”
That’s why it’s time for government-backed digital currencies to reign supreme. The days of endless money printing must end; governments must finally deliver a currency that their populations can use and trust.
I can empathize with the crypto vision. Simple mathematics will tell you that fiat currency is flawed; artificially creating money with reckless abandon will inevitably devalue the currency. As currency became untethered from the real value of gold, I understand why many feel that fiat is only worth the paper it is printed on.
Satoshi Nakamoto’s white paper is a logical conclusion of widespread disillusionment with the financial status quo. After all, currencies are the…
