Blockchain technology has caused us to compare and contrast cryptocurrency and sovereign currency. The term “sovereign currency” implies that nations control currency. However, the rise in peer-to-peer currencies, and privacy coins challenges that paradigm. Nations typically use financial institutions to influence, monitor, and control their populations. One of the first industries to criticize cryptocurrencies is the financial industry. However, as the adoption and value of cryptocurrencies continues to grow, retail and central banks become increasingly impacted. And, as banks become impacted, so do nations. This impacts how nations receive, manage and spend their financial resources. It impacts how nations spend on social and national security programs. The technology is also beginning to impact how governments deliver services and enforce legal compliance. It impacts virtually every aspect of government and governance.

Is the impact of these changes good or bad? Some…

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