The addition to the community each week is overwhelming, and you could pass on the love by adding interested friends, colleagues and family here.
After the $18K highs of Bitcoin, that seem like long-forgotten memories, cryptocurrencies have been coming down back to earth with Bitcoin falling below $7K. This was exacerbated in India, where the RBI issued an onerous circular banning regulated entities from dealing in virtual currencies. This could virtually kill the thriving cryptocurrency exchange market in India.
I have been a strong opponent of the methodology used by the Indian government and regulatory bodies to “crackdown” on entities facilitating cryptocurrency trading.
Most such companies are fledgeling startups, are almost always playing by the rules and are frugally building world-class technology that could be game-changers in fintech. None of them have the heft or the experience to deal with onerous regulation, that is in complete contradiction to promoting blockchain.
At the core, cryptocurrencies are programmed to be large scale incentives to build blockchain technology, and they can’t be separated. We must always remember that many large disruptions have usually been in regulatory grey areas.
In most recent memory (and even today) they are the battles that Uber and Airbnb fight, but harking back a decade – video sharing on YouTube was potentially illegal. Onerous regulations may have killed these highly value additive companies in the cradle, and consumers would have been the losers.
This week, I look at Mind Reading, Personal Junk and Bezos et al.
- [Large Startups]: Spotify saved music, can it save itself?
- [Work Culture]: Divided we lead
- [Growing Startups]: How space for personal junk became a $38 Bn industry
- [Buzzwords]: MIT’s device can “read your mind”
- [Life x Startups]: How to build a startup empire without selling your freedom
- [The New Monopolies]: Bezos, the Billionaire Philanthropist
- [Data!]: Crispr’d food, in a supermarket near you
- [Modern Economics]: George Soros prepares to trade cryptocurrencies
- [Classic Economics]: Chinese money gushes into Sri Lanka
- [Business is Entertainment]: The last great clothing store