The blockchain climate is a relatively calm one. At least that’s what people seem to think. It’s not just startup competitions and Telegram fights. Fox News and George Bush seem to think something much bigger on the horizon. This may be the start of the first Blockchain War between two world powers.
FOX NEWS AND GEORGE BUSH FEAR BLOCKCHAIN WAR WITH CHINA
At first glance, China’s Central Bank setting up their own cryptocurrency sounds like a step in the right direction but not according to Fox News and George Bush. The two have been brainstorming about this seemingly innocent innovation. Having a “blockchain based country” would mean cheaper transactions for China, more accessible money services for their citizens and would decrease the rates of fraud in the country. Sounds good right? Well, that’s exactly the problem. It sounds so good that it’s attracting competition in all the wrong ways. Hence, a blockchain war is brewing.
FOX NEWS AND GEORGE BUSH FEAR BLOCKCHAIN WAR WITH RUSSIA
In 2017, Russia expressed interest in their own cryptocurrency called “CryptoRuble.” Again, this would have great benefits to the Russian government and people such as decentralization, transparency and widespread adaptability. Yet, George Bush and Fox News see this as trouble. This might ignite an unhealthy competition with China. If these two countries are too caught up in a Blockchain War, they may put other, more important issues to the side.
FOX NEWS AND GEORGE BUSH FEAR BLOCKCHAIN WAR APOCOLYPSE
Unless we find a more sustainable way to mine cryptocurrency, then Earth will face an energy apocalypse, unlike anything it’s ever seen. Thankfully, there are startups attempting to make crypto more efficient like Nauticus, BestRate, and IOTA but will that be enough? Our planet can barely sustain the energy of current mining levels. Just imagine once crypto becomes mainstream or there is a blockchain war going on. Underneath all the positive blockchain hype, are some serious issues we need to fix. Hopefully, we fix it sooner rather than later.