Many nations claim to work with the cryptocurrency industry. Many promise to produce regulations that make sense. Yet, details are either trickled out slowly or do not deliver what was promised.
Thus, leadership from state actors is desperately needed. It appears nations who are currently financial agenda setters are fairly mum when it comes to blockchain technology and cryptocurrencies. There are a million and one reasons why this is so, but all explanations are speculations or disjointed information due to internal government officials not agreeing on what to do about the new economy.
However, there are nations with vision of what this new technology could bring to their people. We are aware of cryptocurrency adoption by the people in failed states is a logical catalyst. However, there are nation-states that also see the current system they are within is not working for them. The European Union has existed long enough now for local politicians to experience the level of powerlessness over their own financial governance. Many decisions are made at levels higher than the people’s elected officials by nameless, faceless, un-elected EU board members. Politicians, especially the less powerful nations, are realizing they are only filling their coffers with tax money only to deliver the goods to a black hole slush fund. Monies that are delivered to whichever EU crisis or bailout is occurring this season.
Now neighbors watch one-another vigorously evaluating who is receiving all the benefits without taking on the responsibilities.
The UK stated enough of the hidden dispersion, but even with a Brexit vote by the people, the “Union” does not want to let the golden goose go.
Thus, without London, if your not Frankfurt, Paris, or Luxemburg, the only means of gaining national preeminence is to gracefully bow out of the old IMF controlled system, and it appears Spain will seize the opportunity to recapture their former glory.