Tuesday, May 13, 2014

Bitcoin And Cryptocurrencies And How They Modeling Society Into a New Order

Is difficult to think on what level the cultural and economical impact of cryptocurrencies have been developing into the world's order. Anonymity is the appealing factor of these kind of currencies, the reason is it let people to do business without any regulatory body.

In a worst case scenario, we can think about drug dealers doing business without worrying that their payments are going to be easily tracked as the use of Pay Pal or any other form that involves the intermediary regulatory governmental bodies.

Lets think how the situation can be twisted, as it involves how the people treat their life. Sociologically speaking is complex, as we analyze within difference scenarios there are several disruptive agents towards the economy.

One example we can analyze towards in the United States grounds goes towards the purchase of marijuana is legal, as California; the dispensaries in order to keep the credit records of their clientele private could rely onto the form of these cryptocurrencies, but yet keep them as open to keep transparency towards the public image as well with governmental law on federal and regional level. Now, to think the purchase of marijuana could have repercussions for the individual as well for the dispensaries that would break the law.

So, if any investigative agency from the government is following a transaction that could be potentially illegal, it will be almost impossible as there is no middle way to know for what the transaction is going for. The idea of illegality can take a new perspective because if the smugglers can move towards on how to fool controls on airports and ports, then the national and international economies could tremble.

Then we can take Bitcoin under a different perspective, where under the precepts of regulation it can be used to pull out a country of inflation as it let a free flow of cash if the user has business outside the country limits, as well if there are business that accept the form of currency. We can take the case of Argentina, that in a atypical situation, Bitcoin could be used to put the country on track again; but, a country with harsh management of money, lack of transparencies in monetary politics and controls that citizens can't buy any international items on credit card, make the idea of Bitcoin extremely unusable.

The lack of of backup and legality make Bitcoin a hard competitor into the government backed up system, but as these forms of currencies move and change towards the sociopolitic events, it can be different on a different scenario that is not in the United States or at least in the more stable countries of the Americas as the form could legitimize itself.