The founder and partner at Morgan Creek Digital, Anthony Pompliano being currently in Greece as of the moment speaks over the delicate matter surrounding the Greece economy downfall. The banking system failed the entire economy leaving nothing left on the stake drowning the entire monetary resources. This is direct measure for the loopholes the current banking systems possess which must soon be rooted out to avoid further disaster. Pomp suggests that we must sorts us a way either to avert such situation or devise new techniques so as to eradicate such happenings to begin with. BlockPublisher got to chat with the man himself in order to get some remarks over the recent stay in Greece and a random encounter with the passers by.
The people in Greece always mention the economy crisis, a few years back. Public mouths always keep talking about such things as they seldom forget these things. Bitcoin would certainly have not brought the Greek economy to such a drastic end to be sure.
Though people suggest several causative agents that induced the eventual economic crisis for Greece, the major ones are the tax evasion and corruption followed by loads of under the table deals that played the pivotal part in bringing destruction to the Greek economy. The audits and the anti-austerity movement also added up to the major cause and resulted in the lowest of economies in the entire world. These reasons combined can be tackled by bitcoin which is the exact words that Pomp has thrown out for the people to get a hold on. He states that people hardly forget about such things and are likely to mark the time as the worst financial period of the Greek history.
Bitcoin has some unruly origins which is to be kept in mind as that brought it to light along with most of its siblings of that times including other platforms other than digital currencies. This speaks for the rebels who seek to overthrow the current systems in order to bring the change they need. If it were for bitcoin to be the nationally acknowledged currency at that time, the movements could have been addressed more stably. This brings us to other reasons for the Greek economy devaluation, that are namely, the audits and the tax evasions. The blockchain system keeps in check about the taxes which operate over it leaving no window open for corruption and similar underhanded tactics. The audits thus seem favourable and at some places useless.
Concisely, if the economies of today step forward in accepting the crypto systems as per Pompliano, we can achieve a much better economy, better than we have ever attained since the beginning of times.