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Bitcoin formula and Blockchain gradually influence government policy

Since the turn of the year, the Bitcoin share price has already undergone some considerable price fluctuations - central banks and governments have also increasingly spoken out about the new technology since then.

Hardly a day goes by when somewhere in the world a government expresses itself to Bitcoin, Blockchain & Co. Sometimes they threaten to ban digital currencies, sometimes they present regulatory solutions and sometimes they want to work on possible integrations of blockchain technology.

Obviously, governments are gradually coming under pressure in some way to respond to the trend of the new Bitcoin & Blockchain technology.

Bitcoin formula is in no hurry

An important factor that nobody can deny at the moment is the progress in the Bitcoin formula ecosystem. Almost every day brings forth a new Bitcoin formula innovation or a new startup that is expected to attract the interest of those interested in Blockchain with great promises.

In view of the independence of the blockchain industry, some participants seem to underestimate the supposedly low interest of governments. At the same time, a system with the idea of a self-sufficient and self-sustaining community is forming. However, this philosophy seems to worry some governments and they are also trying to secure their place in the community.

How they try to get the desired attention is another issue. However, the examples of the United Arab Emirates (UAE) and Nigeria show that governments are coming under pressure and desperately trying to catch up.

The Bitcoin Prize is crucial

Crypto Consultant Chairman Jason Cassidy sees the Bitcoin course as the most important indicator of government interest.

Cassidy:

"The price of Bitcoin and other digital currencies always attracts the interest of governments. In times of high volatility and price jumps, Bitcoin and Blockchain will always get on the radar of officials".

According to Cassidy, governments have slowly understood that we are on a very fast path to digital change - and that includes money. Bitcoin and Blockchain have become explosive issues

Bitcoin and Blockchain have become hot topics in recent years and the pressure on governments to adopt an attitude has become greater. The enforcement of the National Electronic Fraud Forum (NeFF) by the central bank in Nigeria has already shown us that governments have understood that technology is there and that it is impossible to imagine life without it.

In spite of the different reactions from governments around the world, one thing is unstoppable: The technology itself. It is moving - and it is moving very fast.