Furthermore, the report also introduces the concept of the ‘Best Reaction Function’ in the context of Bitcoin adoption, explaining how nations develop strategies by anticipating the decisions of others.“A nation’s strategy is influenced not only by its direct gains from adopting Bitcoin but also by the expected actions of other nations, which might alter the global economic and technological landscape,” the report states.
The report states, “Nations acting as first movers in the Bitcoin arena may set precedents in legal and regulatory frameworks, attract global crypto enterprises, and secure a significant share of the blockchain innovation landscape.” However, it contrasts these advantages with the pitfalls of premature regulatory frameworks and the volatility of Bitcoin’s market value, which could pose substantial risks to national economies.
According to ASXN, “Game theory provides a structured framework to predict the outcomes of nation-level strategies in adopting digital currencies, taking into account not only the economic benefits and technological advancements but also the potential geopolitical shifts.” Related Reading: Minimal Bitcoin On-Chain Resistance Ahead: Price Set For New ATH?
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