What do we need to build a real functioning crypto state? How can we build a crypto state where ban is a serious punishment? The answer is: we have to create a large marketplace. Why a marketplace? Because the only thing a crypto state is able to control at the moment are transactions between private individuals and/or companies. For this purpose, a crypto state should issue laws to regulate how the transactions are made. However, there is no point in doing all this if the number of transactions is small – it is no big deal if you get banned on a website that does not bring you money. No biggie.
Consequently, we have to create a large and busy marketplace before creating a crypto state. But this marketplace will be valued and respected only if there are dozens or even hundreds of millions of customers. Unfortunately, we do not have so many crypto holders just yet.
I'm really fascinated by the idea of a crypto state myself and it is my dream for it to appear. But let's be honest – it is too early for it now.
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