Kim Dotcom Has Big Plans for Bitcoin and Blockchain Technology

Kim Dotcom Has Big Plans for Bitcoin and Blockchain Technology

News No Comments on Kim Dotcom Has Big Plans for Bitcoin and Blockchain Technology

 

It is slowly dawning on everyone how centralized and corrupt the political and monetary system of the world has become. In 2010, Julian Assange and his WikiLeaks organization found out how quickly they can be ostracized by the financial establishment and online payment processors such as PayPal, that cave in to the will of the US corporatocracy. WikiLeaks had only one option left, turn to Bitcoin or die. Kim Dotcom, the founder of MEGA (file-sharing service), has found himself in the same position as WikiLeaks. PayPal has decided to distance themselves from Mega by severing their multi-year business relationship as a result of a report released by NetNames, funded by MPAA. The report accused Mega of not being a “legitimate” cloud storage service i.e. safe haven for movie pirates. According to statement released by MEGA, “MEGA is aware that Senator Leahy (Vermont, Chair Senate Judiciary Committee) then pressured Visa and MasterCard to cease providing payment services to the companies named in that report.”

MEGA made an effort to demonstrate that their service is legitimate, but PayPal did not like the end-to-end encryption that provides complete anonymity to users of MEGA.

[PayPal acknowledged that the business is legitimate, but advised that a key concern was that MEGA has a unique model with its end-to-end encryption which leads to “unknowability of what is on the platform”.]

Paypal would like to have people believe it is “concerned” by MEGA’s encryption system, but it is highly unlikely that was the sole reason for their abrupt withdrawal. According to MEGA, “Visa and MasterCard then pressured PayPal to cease providing payment services to MEGA.”

Many other online cloud storage services (Google, Microsoft, Apple) do not seem to have the these types of issues of course. As long as the government can freely snoop, you are “good to go” in the eyes of the US corporatocracy. MEGA is proud to stand up to the pressures of the MPAA and it’s puppets, “MEGA will not compromise its end-to-end user controlled encryption model and is proud to not be part of the USA business network that discriminates against legitimate international businesses.”

Bitcoin Warrior

Just like WikiLeaks, MEGA now has to turn to cryptocurrencies like Bitcoin, as a means of facilitating their “unapproved” business transactions. Kim Dotcom does not just plan to incorporate Bitcoin itself into MEGA, but has repeatedly hinted in several tweets, at a potential blockchain based system called MegaNet, that will run on mobile devices. That famous saying, “Necessity is the mother of invention”, seems to be quite applicable here. In their blind crusade, the MPAA and ignorant government officials are digging their own graves! Bitcoin and cryptocurrencies will provide the means for unobstructed technological innovation to take place, outside the approved boundaries of the western corporate-owned government complex.

The post Kim Dotcom Has Big Plans for Bitcoin and Blockchain Technology appeared first on BTCFEED.

Click to read full article

Author

Leave a comment

Search

Back to Top