WHY GOVORNMENTS HESITATE TO JUMP INTO CRYPTOCURRENCY?
Some like Elsavador have adopted it as currency. But major economies, including the United States, refuse to recognize it as legal tender.
Why?
Through a series of intermediaries,such as banks and financial institutions, governments distribute and regulate the flow and use of money in an economy.Thus,they can dictate it.
Bitcoin Undermines the Cycle;
Its network does away with intermediaries and, by extension,the elements of a government's system.
But let every govornment understand that:
A central bank is no longer required because Bitcoin, the currency, can be produced by anyone running a full node. peer-to-peer transfers between two parties on Bitcoin's network means that intermediaries are no longer required to manage and distribute currency.
