Prof. Craig Wright Sets Facts Right That Blockchain Does Not Put Legality Into Cryptos

A renowned economist and investor, Prof. Craig S Wright brings out a new but rather obvious point out of the crypto puzzle that people refer to as the key feature reflecting how mature cryptos are these days. The blockchain technology sure did bring the cryptos to life as the genesis version of the cryptocurrency, the good old sage, bitcoin had the decentralized essence in it. This escalated the interest of the masses into the then newly instated venture of the digital assets. Dr. Craig, no doubt sings praises of the blockchain technology with people like Matt Blaze continuously reminding us of its flaws. But except the praises, Dr. Craig is of the view that the authorities cannot just sniff around the very technology and legalize the crypto transactions worldwide.

BlockPublisher delved deeper into the talk in order to extract a few words over the very discourse.

The Permission-lessness and the Blockchain technology cannot confirm any illegality as legal. You build up over a illegal thing, it stays so, illegal. Blockchain does not qualify you to camouflage the adversities in your products at all.

Cryptocurrencies are looked down upon mostly by humongous financial firms and monetary structures. This is not entirely due to the fact that cryptos are set to be the upcoming supplant of the fiats. This is due to the roots of the cryptos, the origins that stayed the same and stayed intact. Crypto market is spurring towards being clean and pure but that does not count out the several scam scandals that haunt the crypto markets frequently. The incumbent authorities are on the loose, as per the crypto analysts, but the real reason is far from mere envy or just opposing the need to evolve.

The blockchain technology traverses through the new era as it is the technology promoting the democratic transaction systems without the involvement or the permission of any third party. This is surely new and improves many avenues of privacy and security protocols. But it cannot mask the base which has been intentionally blackened villainously. The great speck lying the foundations of something illegal in the crypto world is just too big a mark to be fathomed to be blocked by the mere technology of blockchain. Dr. Craig explains it as the company, Oracle does not operate over some pre-set protocols or designed algorithms, instead, it has a single owner as the kingpin. Being Oracle does not qualify them to be operating some illegal activities under the mask that they have the purest of networks and similar structures.

Mohammad Shazil

A Riverside, CA born Electrical Engineer who bears the passion to write over every happening around. A crypto zealot. Shazil is the sub-editor of BlockPublisher news. Contact the editor at editor.news@blockpublisher.com

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