When copycats take advantage of innovators and society
When Mark Zuckerberg invented Facebook he was a student. He had his vision for which he fought. Soon he got others to join in his quest. At a point, greed and ego started endangering the project. It took many years until the world took notice of this global vision. Nevertheless, copycats accompany a competitive world.
How many global brands have been copied? Just look at the fake Apple stores in China. Or the fake Gucci bags made in China. There are even fake iPhones using android with useless cameras. In the area of food and toys, fake products can endanger the health of people.
Fake products and services
In the Internet world, you will find plenty of copycats that have no innovative abilities. They can only make cheap copies of a good product or service. Some of these copycats have been very successful in driving their own innovative trends.
Just look at the Russian Pawel Durow. He first started with a copy of Facebook but then went on to sell it for a good price. His current net worth is estimated at USD 1.7 million. His messenger app called telegram is gaining market share worldwide. By repeatedly highlighting the lack of security in other apps he is feeding the masses who are looking for a way to escape a governments desire to control its citizens thoughts. He is now based in Dubai where is has been working successfully to place his new innovative product.
Crypto currency scams
Durow was able to gather over USD 800 Million for his crypto currency business, which is offering to large investors a chunk of the coins of a new crypto currency he is offering. Durow called his global crypto currency Gram. Those who want to get involved need to have at least USD 500.000 available for investment. This is a big boys game.
The encryption technology that Durow has been trying to get into his telegram app and now into his crypto currency GRAM is constantly in the eye of the intelligence services of different countries. Not only Russia is becoming annoyed at Durow’s activities. Other countries are seeking to regulate the crypto currency markets by forcing mining companies to reveal the identity of their clients.
This drives small and large investors towards companies outside the European Union. Nevertheless, Forensic technology allows to track down many users who are trying to hide their income they gained from crypto currencies and multi-level marketing. Even countries like Malta that have been a favourite hiding place for crypto currency businesses and wealth gathering networkers is being forced to hand out data about foreign citizens who reside or hold bank accounts in Malta. The German tax authorities are making use of the European legislation to track down every German expat who holds even 500 EUR in some small deposit in the world. As Banks are being threatened with fines or even massive investigations, they are delivering data even without the consent of their clients.
Mining company that goes bankrupt
As banks report every foreign transaction that is happening, authorities can track the investors who desire to have privacy. Based on this act of power, authorities can close down entire mining and crypto currency trading firms without a notice. Thereby clients no longer being able to transfer the profits they left for reinvestment in the wallets of the mining firms. That drives small and large investors to a state of fear that they will loose their entire investment. A mining company that goes bankrupt will not necessarily be able to refund its clients.
That is why Durow’s continued fight against the Russian Governments Interests has put him into the target zone of the FSB. Durow is a copycat and a threat to Russian interests in the world. He undermines the stability that Putin built over many years. The European embargo has made it difficult for Russian entrepreneurs to keep up with the global innovative trends. Therefore, some of them have gone to implement their plan B. They open offices outside of Russia. They set them up in East European countries or in the US or Canada. That makes them independent and able to get access to alternative technologies. Dubai offers a unique alternative to Europe, as the innovative elite of the country is willing to build new business models. The clock is ticking on the oil industry. Therefore, Dubai is on of the leading hubs in innovative technology in the Arab region.
This is why more and more crypto currency companies are moving their asset management and funds to Dubai. They believe to be protected against the unreasonable activities of European politicians who want to kill innovation. The fear of loss of power governs the European political elite that has an out-dated approach. When you want to shut down the funds of terrorists you do not go after the investors but after the gateways of terrorists.
Frustrated and underfunded safety
Police and security services are massively underfunded. Great experts are leaving their government jobs out of frustration because investment into their equipment and training is massively neglected. This does not have to be a frustrated and underfunded safety. The US government invested massively into security and intelligence. They are creating an abundance of jobs. The NSA has over 56.000 specialized staff on their payroll. Add the contractors and general admin staff then that is a Goliath against what some European nations are trying to set up.
The world has been criticizing the US security services and the government that lead it to where it is now. The Obama administration expanded the abilities of the NSA and adjacent agencies. With Trump reorganization and increase in organizational efficiency is improving the performance. In Contrast, European Governments are engaged in endless discussions. That feeds extremists and racist movements. A lack of situational awareness has taken Europe into a spiral of dissent. Brexit was the beginning. The attempt at disconnecting Catalonia from Spain was the next. The Dutch elections weakened the faith in the European vision. Leading entrepreneurs are looking towards the US and Canada. This will create new jobs in the NAFTA region.
This drives investments out and around the world. The markets realign and property investors have a greater chance to pick out some great opportunities. Countries like Spain are a much-sought region for holiday-makers. As people no longer want to stay in badly run hotels they have to either go for top class hotels or purchase their private holiday resorts.
Father of a daughter and Author of 2 books on Crypto Currencies.