Cryptocurrency adoption and acceptance is increasing at an exponential rate that has taken even regulators unaware. It is no surprise the urgency of action that have followed the regulatory space as the need for some kind of action to maintain or regain control.

But to whose benefit? For the most part regulators claim to be acting in the best interest of those they were elected to serve and often make decisions on their behalf which supposedly represents 'best interest'. The only problem here is that sometimes such decisions seem to go against the majority desires of the people represented, rubbishing the entire notion of Best interest.

Take crypto for example, with its increasing adoption and usecases it has been proven beyond doubt that this technology is people centered and geared towards positive changes. So why then try to shut down such a revolutionary innovation but for the selfish desires of greed and power.

Societies have always had problems with trusting their leadership. While this may have improved marginally over the last century, Trust still remains an issue as a lot of leadership decisions are glaringly not people centric but aimed to please a select few who benefit from such decisions.

Who Benefits if Crypto Fails?

So who does benefit if the blockchain doesn't succeed? The blockchain has brought with it a new way for creating wealth, easier and more transparent means of transacting with people around the World as well as an opportunity for greater transparency in some sensitive sectors such as health, Aviation and Finance. Ordinarily, it should come as quick surprise that a people centered innovation, built and pushed by the people is now being shoved aside at the feet of governments. But when it comes to the case of best interest, then we better understand why this is so.

Those who benefit from the potential failure to revolutionize the old monetary system are the old powers that have gained immensely from it and built oligarchies over the decades. For some, crypto represents a huge threat to the status quo and they'll do anything to maintain it.

However, much like the people centered revolutions of the past, ultimately this cannot be merely shut down. The old guard will be forced to take a back seat on this onea as a new generation of wealth is created and financial freedom is liberalised. Crypto can do that, and whoever is against that isn't acting in the people's best interest.

Conclusion

I conclude with this statement by @yintercept, who actually gave the inspiration for this article:

"Crypto is a threat to the sovereignty of the government. If one holds that sovereignty should flow through the people, then crypto is actually re-enfranchising the people."

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