"Every country has the government it deserves."
Toute nation a le gouvernement qu'elle merite .......... (Joseph de Maistre 1753-1821, French writer and diplomat)
War has significant and multifaceted effects on the economy of the countries involved. While the specific impacts can vary based on the scale, duration, and nature of the conflict.
Here are some common effects.
Destruction of Infrastructure- War often results in the destruction of physical infrastructure, including roads, bridges, buildings, and utilities. The costs of rebuilding and reconstruction can be immense, diverting resources away from other economic activities.
Displacement of Population- War can lead to mass displacement of people, causing a strain on resources and services. Internally displaced persons (IDPs) and refugees may require humanitarian aid, affecting both the host country's economy and the economies of the countries providing assistance.
Impact on Human Capital- Loss of life, injuries, and psychological trauma during war affect the labor force. This can lead to a shortage of skilled workers, a decline in productivity, and increased healthcare and social support costs.
The current war shows different leadership style but similar crypto adoption pattern. Sanctions is crushing the economy and GDP is set to drop by 22% this year alone. The destruction of facilities is also affecting the agricultural exports and hence destabilizing the global food ecosystem.
The above is a classic scene for an increasing demand in the economic possibilities of blockchain.
Blockchain technologies are the future, and any effort to ban them—or even excessively intervene in their operations—would meet the same fate as other state attempts to circumscribe behavior. Restricting cryptocurrencies at the moment, when they are facilitating innovations and brimming with potential, would undermine financing of critical sectors.
Top 10 Countries in Crypto Adoption Index:
1. Ukraine
2. Russia
3. Venezuela
4. China
5. Kenya
6. United States of America
7. South Africa
8. Nigeria
9. Columbia
10. Vietnam
Government should play a role; a tailored regulatory environment that allows for the live testing of innovative capital markets related products, solutions and services with the potential to deepen and develop the capital markets prior to launching into the mass market.
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