Forget Brexit, Think Blockchain and Cryptocurrency

Facebook’s Libra, Twitter, Nation-Backed Digital Currencies, China and Other Macro Trends

Let’s look at some macro trends circling the esoteric inner core of this ongoing technological revolution. First up there’s Facebook’s Libra, which currently is a swirling mass of confusion. It’s clearly become a major part of the world’s biggest social media giant’s roadmap and they’re throwing a lot of resources at it. For crypto generally, it’s a huge affirmation of the technology and has been utterly out of the realms of expectation just a few years ago. As expected, however, with an entity as big as Facebook, Libra got the world’s major power structures hot under the collar, given that a ‘global stablecoin’, accessible to billions of people around the world, goes straight after government’s grip on monetary policy, which is effectively like trying to wrestle away the ultimate superpower of state.

The major nation state in question, the US,…