[kictanet] Should a Technology be regulated? - The current state of blockchain regulation

[Ali Hussein]

+1 Brian.

Ali Hussein
Principal
Hussein & Associates
+254 0713 601113 

Twitter: @AliHKassim
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"We are what we repeatedly do. Excellence, therefore, is not an act but a habit."  ~ Aristotle


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> On 9 May 2017, at 1:01 PM, Brian Muhia via kictanet <kictanet at lists.kictanet.or.ke> wrote:
> 
> Dear Listers,
> There are three words that describe the mainstream opinion to blockchain: Fear, Uncertainty and Doubt. 
> 
> Fear: Even if the status quo is pretty bad, they fear the change to a new system. The reverse argument, one that should eliminate this species of status-quo bias, is the same. Would we want to move to the current system if we had thought of blockchain first?
> 
> Uncertainty: They're uncertain of the near-to-long term economy anyway, and since this change is so salient, they project that uncertainty on this specific technology. Most technological changes that have affected the financial system, either positively or negatively have been a bit hidden from most citizens and regulators. Here I'm thinking of HFT technologies in particular. We have an opportunity to propose a publicly visible technology with lots of hype behind it, that promises to overhaul everything that needs  a trust element. 
> 
> Doubt: The introduction of a new class of experts, and subjects requiring new forms expertise (cryptoeconomics) from corners of the world that are basically unknown, considering the open-source and anonymity-first nature of this technology.
> 
> I think there are many solutions to this, but all of them have the component of patience, because it'll take time for everyone who can make decisions to learn what it takes to make good decisions in this space.
> 
> 
> -- 
> Software Engineer - Savannah Informatics Ltd.
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