Bitcoin. The word means many different things to many different people. As the world’s first and foremost decentralized digital currency, Bitcoin attempts to throw a wrench into the traditional monetary system. Here we will discuss the possibility that parallels exist between traditional tax havens used by the wealthy and cryptocurrencies like Bitcoin.
Estimates on the high side claim that the amount of money held offshore is anywhere from $20-30 trillion, and that up to 10% of the world’s GDP is parked offshore. It can be said that the most wealthy individuals have already had access to this form of secrecy and privacy for years.
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