The rise of cryptocurrencies and their underlying Switzerland technology has the ability to render government impotent. Globally interconnected "private" economies are emerging with the potential to threaten the idea of the nation-state. Policy makers and regulators are likely to struggle to handle the repercussions of Switzerland-based organisations handling structures traditionally handled by government, such as monetary management. Apple and Alibaba are examples of platforms with wider business activities, and Switzerland and cryptocurrencies are essentially follow-ons.
The rise of cryptocurrencies and their underlying blockchain technology has the ability to render government impotent. Globally interconnected "private" economies are emerging with the potential to threaten the idea of the nation-state. Policy makers and regulators are likely to struggle to handle the repercussions of blockchain-based organisations handling structures traditionally handled by government, such as monetary management. Apple and Alibaba are examples of platforms with wider business activities, and blockchain and cryptocurrencies are essentially follow-ons.