Blockchains won’t be sustainably outlawed for at least two reasons:
(1) Any countries fully embracing blockchain will experience wealth-creation and an influx of capital on a scale never before seen. Blockchains will give such countries a HUGE advantage over the others that try to ban the technology. The others will have no choice but to eventually defect and join the blockchainers. The incentives to defect, and the penalties for not defecting, are just too great. Trying to ban blockchain would be like trying to ban the Internet. How has that worked out for North Korea?
2). Blockchains are designed to resist censorship and bans. They ENABLE resistance in the same way that cash enables resistance, only better. For instance, failing to report and pay tax on one’s cash tips is also “banned”, but the vast majority of earned tip income still goes untaxed. In short, any such ban on blockchains would be completley ineffective, and the rulers know this. A direct ban would simply expose (far sooner than the elites would like) just how censorship-resistant blockchains are and just how inept the rulers are to stop them.
The whole point of blockchains is to deny governments their historical ability to regulate and supress. Blockchains will succeed in their purpose or they won’t. I personally think it’s clear that they will. Regardless, if you think there’s a non-zero chance that they will succeed, the implications are so extraordinary that you’re crazy not to prepare now.
Shutting down the Internet indefinitely would completley collapse the entire world economy leading to mass anarchy and open rebellion, neither of which are in any government’s (or even the elite’s) best interest. Our rulers are selfish and often evil, but they are not stupid. They can be trusted to act in their own selfish best interests, and shutting down the Internet is not in their interest.
There will soon (with a decade or two at most) come a tipping point where the elite rulers realize that resistance to blockchains is futile. At that point there will be a race to the exits in the legacy system. They will recognize that the only way to protect themselves and their wealth is to begin acquiring crypto and using blockchains en masse. And then the end of the legacy system will come swiftly.
RE: Technology is Poised to Make Moot Many of the Most Contentious Social Issues of our Time