Hi Guys,
There is speculation as to whether Cardano will be classified as a security or commodity. However, there needs to be incentivisation as to how Cardano will be used within countries such that their respective regulative agencies can classify it.
If Cardano or any token for that matter is traded as a currency, then it would be a disincentive for government regulators to classify it as a security due to the stringent costs for governments, and exchanges to issue in accordance to security laws (Security vs Commodity). Gold is the perfect example as to the ability for people and businesses to transact without requiring stringent securities regulations.
The Indonesian commodity future trading regulator, Bappebti on June 9 classified over 450 cryptocurrencies as commodities, with the regulator notably recognising ADA for its functionality, use and participation of governance.
How can we collectively promote for the trading and use of Cardano? On the software end, that is up to the developers and community of Cardano to continue building. For the governing structure, the same stakeholders are able to write up the constitution.
But what about the marketing aspect of Cardano to be used as a currency? Are we going to continue being passive as an ecosystem whereby it was like Bitcoin and government regulators from different countries were inclined to place it into regulative capture. Or will ADA be different where we could give benefits to all the nation states and its citizens that use it.
If Cardano is marketed and traded commonly between people throughout the world, then I believe that regulators will forego any interest to hinder the use and potential of ADA. I for one am not interested to see the potential of Cardano be constrained by regulators.
Marketing Cardano will make the Voltaire phrase easier in my opinion as its use by the people will prevent any restrictions in ADA governance potentially set by regulators.
What are your opinions on the need to market Cardano, and what recommendations do you guys have?