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Cryptocurrency ban could destroy economies for decades: Tapscott

Best-selling author and blockchain advocate Don Tapscott on Wednesday called for South Korea’s “sensible regulation” on cryptocurrency tokens and initial coin offerings, warning the government could otherwise “destroy economies for decades,” during a press conference in Seoul.

Tapscott called bans on cryptocurrencies and initial coin offerings “heavy-handed approaches used by dictators and undemocratic countries,” and contrasted them with “sensible regulation.” The 70-year-old Canadian was one of the speakers at a forum titled “Blockchain Revolution: Convergence with Traditional Economy” held in Seoul Dragon City.

“Governments can crush this and destroy their economies for decades,” he said. “It’s not clear which way (South Korea) will go, but there is an optimal and correct direction.”

Read the full article in the Korea Herald

Author: Amie Colquhoun

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1 Comment

  1. A nations currency is supported by the country’s assets, not hold, silver. Which are just another s
    Asset of any and/or all country’s. Banks are offices for used for keeping money and other methods of exchange that are supported by Money andvotjer financial services like loans etc.

    Unfortunately under control by private financial predators instead of each country controlling their own economy.

    Bitcoin is not supported by any visable assets. The so-called blockchain is a more descriptive explanation of the internet which is limited in the amount of historical data it resources based on hardware capabilities or policies of private gangs who control our information systems via hardware-software-telephone switching equipment online connectivity of broadband or telephone numbers our modern telephones use to connect to each other.

    On these modern times of wireless broadband, wireless communication through telephone switching equipment, it’s become an enormous opportunity for the upper class to get money from banks and Connected government grants loans tax credits to buy telephone switching stations, hardware. Software and advertised NewsMedia supported gobetweens who charge using THEIR popular social networking sites for Thin Air. There is a cult of so-called geniuses who are literally GIFTED with free money to create these New Model Company’s that rely on government-newsmedia-NYSE monguls to fund their expenses to startup these companies that are all take and no give getting Big Money from taxpayers to acquire assets the common people are NOT allowed to possess.

    The word blockchain is a description of simply retaining data that social networking systems no longer permit access. It’s used extensively to support so-called cryptocurrency > a money grabbing effort to extract cash from unwary investors for something unrelated to actual currency. An initiative NOT PROSECUTED under the Obama regime whose support for the internet status quo that cost taxpayers BIG MONEY for modern telephones and thin air for broadband connectivity. It’s similar to the Private One World Bank Cartel if examined closely represents our world trade systems that have returned slavery and nobility.

    A return to Fair Trade and free market banking would bring an end to predators enacting our laws through lobby bad government whose pay to play system has destroyed our infrastructure sending our jobs into slavery while trying to end Our Fair days pay.

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