GettyBig governments and central banks want to kill Libra and Bitcoin, and eventually all cryptocurrencies. "Government and central banks are after Bitcoin and Libra because they reduce their ability to control markets and populations, while also making some of what they do irrelevant,” says Dave Hodgson, Director and Co-founder of NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem. “It is uncomfortable when people ultimately realize that the emperor has no clothes.”Iain Wilson, Advisor at NEM Ventures, agrees.“Public blockchains are inherently decentralized which empowers individuals and enables radically different business models,” says Wilson. “This has major ramifications for the ultimate centralized entities - big government, big corporates and the guardians of the banking sector: Central Banks. Balancing power between these two poles will require major public policy debate and potential clashes.

Source: Forbes July 16, 2019 23:26 UTC