MONEY WITHOUT BORDERS: WHAT'S IN IT FOR YOU?

First, there was the move towards nations without borders as represented by interventions that challenged the concept of nationhood accepted since world war two and birth of the United Nations

The assumption was that no matter how small or big, strong or weak, every member nation of the UN was entitled to its sovereignty and limited borders. But events since world powers intervention in Saddam Husein' Iraq, Gaddafi's Libya; Assad's Syria and still ongoing: West African leaders intervention in Jammeh's The Gambia have hinted more at nations without borders even if by self appointed redeeming righteous men.

Then, there was the birth and rapid spread of the social media via the internet which has turned all nations, including the powerful and the closed ones, into a network of communication with little role for nation borders.

Now, it is the turn of more deadly money without borders. More deadly for nationhood because most nations have currencies circulating within their borders as part of the expression of sovereignty and nationhood.

Simply put, money without borders aims at making it possible to do away with licensed banks and other intermediaries while transferring funds across borders. It is attractive to different people for different reasons.

Some want to stay anonymous while transferring their money, others just want to avoid bank charges and yet another set want to launder money stolen or meant illegal deals like arms purchase. For many, it is best alternative amidst forex controls.

No matter the reason, in China and more recently, here in Nigeria, money without borders became popular as government tried to control official foreign exchange outflow and even sniff out hush money.

They are called crytocurrencies and the recognised pioneer, Bitcoin, came out in 2009 and continues to grow in status.

So, yes, whether it is through Bitcoin, perfect money, payeer, advcash, greencoin or any other in existence currently, you can indeed send and receive foreign currency through them but mark you, in most countries, you are on your own. So shine your eyes before getting involved.

But then, more important really is the question: Is the world finally on the road to nations without borders?

Like one Santosh Wakade, a self confessed non economist, wrote online in Quota: today's nations were:
"Unplanned, man made from ambitions, greed, fanatic ideas of religion and god, historic wars between kingdoms, freedom struggles and other similar events"

Thus, Wakade, added, "whatever it is, as of today, we are definitely not in phase 21 of world development plan but just carrying the legacy of past events"

In other words, nation states too will pass; no wonder globalisation is growing in all frontiers.

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