Why are Politicians so Against Innovation?

Innovations are the driving factors for the successful development of the country.

Innovations are the driving factors for the successful development of the country. Nowadays, many AI, crypto and technology-oriented companies are trying to come up with various innovations, to strengthen their operation.

However, in some cases, prominent politicians widely oppose innovations, fearing that they may result in terrible consequences. Mostly, they are driven by personal interests, and this article will examine three particular industries which are AI, crypto and the gambling industry.

Why are politicians against AI?

The development of artificial intelligence has greatly affected the world. AI can replace humans in many aspects of life and politicians will not be left untouched either. They fear that at some point robots may overtake the places they are currently holding. Politics change from time to time and citizens are increasingly fed up with human politicians, thinking that intelligent machines may design better policy, than human counterparts.

There was an interesting fact in Japan when during the mayoral race in Tama, a machine named Michihito Matsuda managed to get a couple of thousand votes. In New Zealand, a robot named Sam is being created to run for 2020 general elections.

So AI is expected to make crucial changes in global politics, and that’s why politicians are firmly against their development. Ultimately, it will result in losing the jobs they are currently having. Who knows, perhaps an automaton could be a better creation to implement an effective policy agenda.

Why are politicians against innovations in the gambling industry?

Gambling industries are full of innovations – live casino games, VR, cryptocurrency. Actually, the latter is the main concern for politicians because it would enable concealed and anonymous transactions and they are not particularly fond of that perspective.

Online casino industries start to introduce Bitcoin-powered blackjack, slots, baccarat games. The trend is notable in various European games and especially in Australia, and that is why the country’s politicians oppose the introduction of BTC slots online AU – for them, it is the threat to the real money and moreover, they will not be able to track the financial activity of users. However, casinos are unlikely to change their policy regarding cryptocurrency because it attracts a lot of customers.

Why are politicians against cryptocurrency innovations?

More or less in the previous section, it was mentioned the threats coming from the cryptocurrency for politicians. In essence, the absence of a central government is the primary reason they are afraid of it. The government controls the fiat currency, fiscal policy, business environment. Bitcoin users do not see the need for the existence of a banking system, and if the cryptocurrency becomes widely adopted, the whole banking network could become irrelevant. Without banks, jobs will disappear.

This perspective is not very attractive for politicians, as they think it will further increase the risks of criminal activity and terrorism. When Facebook introduced the adoption of Libra cryptocurrency, the government of the United States deemed it as a threat to the global financial system mainly because of the abovementioned reason about criminal activities. Facebook altered plans for the proposed project, and it is thinking about the renovation.

Conclusion

Technically speaking, politicians are more afraid of their personal interests, that the innovations themselves. The prospect of losing jobs reduced control over financial activities do not seem to be very alluring to politicians worldwide.

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