So as a follow up to my last post, I just noticed that China has slapped Alibaba with $2.8 billion fine in anti-monopoly probe
I'm not saying that they are wrong for doing this, but I wonder, do governments not think there might be some sort of push-back from large companies when these things happen? Now that the governments of the world have emptied out their (our) piggy banks, and have taken on massive debts in the form of bonds, where did they think this would all end? The next de-evolution of the world economy is reaching a huge crescendo and as the music fades, what is left for them to pillage? Only the wealthy or thriving (or not) businesses with little mobility will be the next targets for them to try and recoup their losses.
But what will be the reaction from them when this occurs? If the taxation is onerous enough, surely a percentage of them will look for greener pastures to graze in. Up till now, the process of moving your assets away from a location that wants, no, needs them to stay to continue to finance their way of life was quite difficult. But now with the advent of Crypto, the methods have become much easier, that is also why the governments of the world don't like it. And I suspect this is the new battlefront, with winners and losers seesawing back and forth over the next decade.
The biggest problem I see, is that large companies that run a tight financial ship charged onerous taxes by countries that they watch using the funding in ways that bloated governments usually do, badly, and that they have no voting power to match their generous donations, start to feel that it's not a fair relationship. After all, a relationship goes two ways, and must balance, or the "ship" part of relationship sinks. Large companies could feel that they could use the same amount of money paid in taxes and do a much better job with it. If there was a way to create an environment where most of the parts of the operations of government that are not tied to social services, were run like an efficient business, and the bottom line was always the target, the cost of the base needs of a country could be reduced significantly.
Speaking of social services, (and I know I'm steering into troubled waters!) it's been my observation, that through out the history of humanity, there have always been sort-of three tiers of society, the bottom, middle and top. They mix and churn and can go through many changes, sometimes because of revolutions, climatic or techno influences, such as the internet and Crypto Currencies for instance. but the one thing that I have observed is that they always seem to be there, It appears that no amount of tweaking by any organization seems to solve the perceived problems in any substantial way. Most of them just try to sweep it under the rug for the next elected officials to handle?, Yeah, like that's been working...
Even though I like the idea of a well balanced society without suffering for all, the main problem that I perceive is for every person I see of need, I usually see another one taking advantage of the system therefore degrading it. My moral compass (which I try to keep clean, honest!) has me helping anyone that needs it, but only if I see that they are willing to help themselves even a little bit until they get back on their feet. Yes, I realize that there are people that are so far down the rabbit hole that nothing will help, but...
I'm trying to figure out how Crypto could help in these instances, as I mentioned in one of my other blogs, according to the World Bank, close to one-third of the world’s adults are “unbanked" meaning they don’t use formal financial services.
Even in the United States, perceived to be one of the wealthiest nations in the world, the Federal Reserve found that 22% of adults in the United States are either unbanked or underbanked. That’s roughly 63 million Americans who either have no bank account at all or rely on “alternative financial service products” such as money orders, check cashing services, or payday loans to fulfill their financial needs. Pretty scary statistics. But according to the above article, they are now using their phones to make payments and even start to save. That's pretty cool...
But back to my idea of Crypto Countries, over in Africa, this is what they are doing..
Akon City 2: Akon Unveils Plan to Build Second Futuristic Cryptocurrency City in Africa.
The only issue I see is that these are startup concepts for a municipal government, the same as the one in Arizona, is that they still have oversight by State and Federal governments, which I believe will be watching very,very carefully. I still believe that to do it properly, it needs to be developed outside of any government overreach, and the entity that does it first and well, will be the model for everyone to follow.
I'll keep looking into my Crystal Ball, but it's looking pretty cloudy these days, I think I'll try my Basketball instead, it can't be any worse...