The rise of cryptocurrencies and their underlying blockchain technology has the potential 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 asset handling issues traditionally handled by banks , such as monetary management . banks and Alibaba are examples of platforms with wider business activities , and blockchain and derivatives 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.