Motive behind Government's intervention in cryptocurrencies!

As we know every new technology requires some time to expand its reach in the market and make people believe in the importance of that technology.

Today we see so much of technological advances in various of the fields and people are now advancing towards accepting those technologies at a faster pace.

For example, when computer technology comes, it takes decades of time to get distributed to the mass section of the society. Also when mobile and internet comes, they also require a decade of time to be well distributed to whole of the society.

There are many examples of such technological advances which has happened in the past and requires some decades, years to be well accepted and distributed to mass section of the people.

Today we are seeing a new technology which is going to revolutionize the traditional system used by people for various of aspects such as transactions, storing data, security etc which is known as the blockchain technology. This technology is really revolutionary and has got lot of benefits such as :-

1. The technology is more of unhackable and thus it solves the major problem of cyber security around the world.
2. High scalability and minimum fees on transactions, which we are not getting with the traditional system provided to us.
   There are many benefits related to this technology but I covered the most basic and the important ones.

Blockchain has come about more than 9 years back and it is still struggling much in the market for mass adoption. One of the foremost reason is due to the government interventions from time to time.

The cryptocurrency market is something like stocks market, so it is being obvious that government would intervene for preventing frauds. But there is one more thing behind the intervention, and it is related to the power of the government.

One thing we all know right now is government always tries to make most of the control of anything going in their premise and always keeps an eye to our personal information and things. Things such as tracing mobile calls and messages, bank account details, search histories of people, etc.

But the thing with blockchain is that it is not like somebody can look into someone's personal information and things. As there is exemption of middle man in the blockchain technology, it offers such kind of things to any person. This can be a major problem for any government and thus they are avoiding such technology to be implemented.

Therefore they want to disrupt this technology and don't want to loose their power at any cost. There are other factors to why government is intervining in this subject but we all know that, most of the powerful people on the earth doesn't want to loose their influence and power at any cost, mostly the people of the government.

This is my view-point on the recent governmental interventions on the cryptocurrency technology.

Thank's viewers
@shubham