Massive Crowds March For a People’s Vote on Brexit, What Would an Article 50 Revoke Mean for Crypto Blockchain?

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Huge crowds have descended on the streets of London with hundreds of thousands expected on an historic day as Britain, Europe, and the world, stand at a cross road.

JK Rowling, Patrick Stewart, David Beckham, Billy Bragg, Paloma Faith, Daniel Craig, Bob Geldof and Elton John are marching alongside politicians and ordinary citizens in what looks like a very peaceful atmosphere.

Speakers at the rally include Labour’s deputy leader, Tom Watson, Scotland’s First Minister, Nicola Sturgeon, London Mayor Sadiq Khan, former Tory turned independent MP Anna Soubry and former attorney general Dominic Grieve.

A record breaking petition has reached 4.3 million signatures at the time of writing. It does not demand a people’s vote, but an outright revoking of Article 50. It says:

“The government repeatedly claims exiting the EU is ‘the will of the people’. We need to put a stop to this claim by proving the strength of public support now, for remaining in the EU. A People’s Vote may not happen – so vote now.”

Britain has been given an extension until April 12 with a constitutional crisis leading to utterly incredible scenes in Parliament.

The only deal British Prime Minister Theresa May has been able to secure has been called by some prominent Brexit leaders as being worse than remaining due to the backstop not having a unilateral exit clause unlike the EU treaties.

EU has stated they’re not re-opening the two years long negotiations. May has tried, but without success so far as parliament has twice badly defeated her proposed deal.

The most difficult matter has been the border issue. There has to be one if UK is leaving. There has to be a border whether between Britain and Northern Ireland or between Northern Ireland and Ireland. Neither is acceptable. Thus the constitutional crisis.

Northern Ireland in particular was hardly mentioned even once during the Brexit debate. Nor were potential geopolitical considerations raised in a prominent way. Will there be negotiations over Gibraltar, for example? How does tiny Britain stand up to a united France, Germany, Spain, Italy and the rest if there are such negotiations?

Trade deals were promised with the rest of the world, but America First showed itself in the 50s during the Suez Canal crisis.

As France and Germany now effectively merge into one nation, does Britain really want to leave without serious consideration of the war and peace matters that led to the formation of the European Union to begin with. On the other hand, can Britain really be part of the EU without adopting the euro of which it was effectively forced out by George Soros during the Exchange Rate Mechanism crisis?

Those are difficult questions that have not been answered by any Brexiter. They all scattered for the door when they won the referendum, putting forth a remainer to lead Britain out of a union it joined with 67% of the 1970s voters.

Considering the Syrian refugee crisis was probably a prominent, but temporary, factor in the very small margin in favor of exiting, considering no one has come up with a solution to the border that retains territorial integrity, considering no Brexiteer actually wants to take leadership, considering potentially more difficult future negotiations perhaps even over Gibraltar, a potential exit of Scotland from the British Union, and considering the British public is now far more informed on the matter, is it time to go back to the people?

That’s a matter for Parliament, but what would either exiting or revoking article 50 mean for this space?

How Does Brexit Affect Crypto Blockchain?

The main concern for this space and the financial industry in general is passporting. That’s a privilege of the union whereby a financial license by any member state regulator is valid in all of the European Union.

This significant privilege will probably not be granted without Britain giving something considerable in return.

That could mean that crypto or blockchain start-ups would probably have as priority the American market, then the European market. Britain then might be a third consideration, but it might instead be Japan or another hub in Asia.

If Britain does remain, then UK would be first destination due to its very accommodative regulatory approach which effectively makes the entire European Union accommodative.

It would probably be a more attractive destination than even US, with London declared as the Financial Capital of the World prior to Brexit.

Its location, its English Language, its fine universities, its proximity to Europe, and the ability to serve the US market from UK, allows Britain to be a leader at times even more than US.

If the British people want to give that all up, then the question is what do they get in return? Europe has many trade deals with many countries, why would Britain’s trade deals be any better?

Why would anyone give Britain a better trade deal when it is a fraction of the economy of US, or Europe, or China?

Free movement apparently is a concern, but half of Europe has been raised to almost first class standards in part thanks to Britain and the British economy has benefited considerably from it with any surges in free movement probably temporary one offs when they joined the union.

Britain now has the best pizza chefs from Italy, the best house builders from Poland, some of the best professors from all over the continent, some of the best scientists, doctors.

Why shouldn’t UK now reap the fruits of far richer customers say in Estonia who are hungry for their financial services, their technology and so on. Why should UK leave from what it itself has built and what is turning out to be the greatest success story for 250 million impoverished people from Eastern Europe now boom while Western Europe booms even more.

Why threaten the great peace and prosperity we have enjoyed and still enjoy in a continent that has always been united and has always shared the same culture and traditions, from Greek times, to Roman times, to the Holy Roman Empire, the Vatican’s supremacy, and now the European Union.

It is better together. There are strengths in numbers. There is sovereignty in union. One doesn’t turn from their friends when times get a bit tough. Belgium, other smaller nations, need Britain to lead this great continent.

The Brits are equals in European tables, but inferior to far bigger America as Suez Canal proved. Moreover, it is precisely because of these border issues across the European continent that the EU was formed. Freedom of movement has united families and has united a civilization.

Even the masses can make mistakes with limited information or in times of crisis. They did elect Hitler after all. Now that the consequences are very clear, including fundamental war and peace matters, it is right to think again.

As far as this space is concerned, Cameron has been missed and greatly. Had he been around, the regulatory debate on Initial Coin Offerings (ICOs) would have probably gone a bit differently as he would have seen the opportunity.

What happened, happened. Britain will now need to decide what will happen. Staying best buddies with France and Germany, best pals with USA and Ireland, good friends with China and the rest, sounds common sense. But with just weeks to go now, we’ll see what Britain decides.

Editorial Copyrights Trustnodes.com

 

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J. Richter

thanks for this article. this one actually has more depth than some of the trump cheerleading ones. trump and farrage and their reactionist, take-our-country-back to the 30s positions are part of the pushers of brexit and trade wars and walls. yes the syrian crisis and excessive immigration is very annoying and inconvenient but everyone needs to not get so reactionary that we throw away the baby with the bath water over it. that’s what the voters did with brexit and trump. and yes the masses can get it wrong (or a slightly less than majority but enough to overcome the… Read more »