I Try to Write for Every Time & Space
I Try to Write for Every Time & Space
Et tu Brutus? –Julius Caesar (William Shakespeare) Were the last despairing words Caesar apparently uttered as he lay dead stabbed 23 times by the conspiring senators. Julius Caesar was one of the most dashing military general and consul Rome ever…
![Two men saw a beautiful rose: one noticed the beautiful petals, and the other the thorn. Thorns - Sakoku In 1371, the Chinese Hongwu Emperor was alarmed by a foreign ship that approached the shore, much larger than any Chinese ship. He feared that foreign invaders would invade or aid the remnants of the previous Yuan dynasty and threaten China’s security and sovereignty. So he enacted the “Haijin Policy”, which prohibited private maritime trading and coastal settlement and restricted official trade to designated ports and tribute missions. Other emperors over the years kept China isolated to prevent the spread of Christianity and to protect the Chinese merchants from foreign competition. The policy negatively affected China’s economy, society, and culture, isolating China from the rest of the world and hindering its maritime development and exploration. It also contributed to the rise of piracy and smuggling along the coast, as many Chinese dispossessed by the policy turned to illegal activities to survive. The after-effects of the “Haijin policy” also made China vulnerable to foreign aggression and exploitation in the 19th century, as it lacked a strong navy and modern technology to defend itself against Western powers during the Opium Wars. China, in short, could not keep up with the fast-paced developments taking place in the industrial world and got dominated by the invading Western powers. Petals - Meiji In contrast, in 1853, when the Japanese Emperor Meiji saw an American ship sailing into Tokyo Bay, he was inspired to change Japan and open it up to foreign countries. This was known as the Meiji Restoration. Before this, Japan was ruled by a feudal military government that enforced a policy of isolationism, known as sakoku. Sakoku means “locked country” and restricted foreign trade and contact to a few designated ports and countries. Most foreigners were banned from entering Japan, and most Japanese were prohibited from leaving the country or learning foreign languages. The policy was intended to protect Japan from foreign influence and threats, especially from Christian missionaries and European powers. The policy also preserved the social order and stability of the shogunate system. However, the policy also negatively affected Japan’s economy, culture, and technology, as it prevented Japan from participating in the global exchange of goods, ideas, and innovations. The policy also made Japan vulnerable to foreign pressure and intervention in the 19th century, when Western countries sought to open Japan for trade and diplomacy. The Meiji Restoration initiated a period of rapid modernization and westernization of Japan, as the new government sought to transform Japan into a strong and industrialized nation-state that could compete with Western powers. It also brought about social, political, and cultural changes that ended feudalism and created a constitutional monarchy in Japan. The Japanese Emperor saw the same object as the Chinese Emperor - the ships - but he decided to open Japan to the world and embrace innovation that took the country from a backwater to a modern industrialised nation. The Rose - Web 3 This historical example illustrates how some governments may react to Web 3.0, a new technology that promises to decentralize and provide sovereignty to the users and more freedom than previous Web 2.0 users had. Web 3.0 is like the foreign ship that challenges the existing order and status quo, and some governments may fear its potential impact on their authority and security. They may try to ban or restrict Web 3.0 activities and services, such as cryptocurrency trading, decentralized applications, or peer-to-peer networks. However, this could have negative consequences for their economy, society, and culture, as they would miss out on the opportunities and innovations that Web 3.0 offers. They would also risk losing their competitive edge and influence in the global arena, as other countries embrace Web 3.0 and reap its benefits. Embracing Web 3.0 The advent of Web 3.0 has brought exciting opportunities for businesses and individuals. With the rise of blockchain technology, decentralised applications, and the Internet of Things (IoT), the Internet is rapidly evolving. Web3 has created a low barrier to entry which has enabled people to launch mix of good and bad projects. Web 3.0 is a new Internet paradigm that leverages blockchain technology, decentralised applications, and the Internet of Things (IoT). It offers exciting opportunities for businesses and individuals to create and participate in innovative projects. From creating new jobs - around 600,000 jobs were created worldwide [], boosting economic growth as many start-ups were created during this phase, also financial inclusion that provided people with access to financial services that they may not otherwise have had, web3 has impacted industries in banking, media, entertainment, gaming, art, supply chain, logistics and e-commerce. Price of innovation The total market capitalization of all cryptocurrencies reached $3 trillion in November 2021, up from just $14 billion in January 2017. This represents a staggering growth of over 200,000% in just five years. While it bought opportunities, this growth also brought in lots of regulation headaches. There are four main sectors that the government care about on any organisation providing financial services [4d] [5g] [7f]:- A, Anti-Money Laundering (AML) regulations: AML regulations are designed to prevent the use of financial institutions to facilitate money laundering. B, Know-Your-Customer (KYC) regulations: KYC regulations require businesses to collect and verify the identity of their customers. C, Data protection regulations: Data protection regulations are designed to protect personal data privacy. D, Consumer protection regulations: Consumer protection regulations are designed to protect consumers from fraud, deception, and unfair practices. The blockchain enabled people to directly support projects that were usually reserved for elite investors, without the need for intermediaries. But this also exposed them to huge risks. In a span of three years, investors suffered $67 billion in losses from the downfall of Terra, 3 Arrows Capital, FTX and Celsius, and another $6.6 billion from Defi hacks. These events triggered a regulatory crackdown in North America, where many Web 3 companies could not comply with the existing laws and either had to move out of the country or had to shut down.](https://www.shanzz.xyz/wp-content/uploads/2023/06/two-ppl-and-boat-1-1-768x730.jpg)
“Two men saw a beautiful rose: one noticed the beautiful petals, and the other the thorns.“ The Thorns of Isolation In 1371, the Chinese Hongwu Emperor was alarmed by a foreign ship approaching the shore much larger than any Chinese…
“In June, the US budget deficit, which counted $864 billion, was larger than the total debt that was incurred from 1776 through the end of 1979, which is shocking” – Morehead, CEO of Pantera Capital (June 2020) Today the crypto,…
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