Former United States President bill Clinton expressed his concern about the attitude of regulators to the cryptocurrency sphere. An appeal to him Clinton spoke at the conference, Swell, Ripple organized in San Francisco, this past Monday.
The Swell program of the conference dedicated to cryptocurrency issues last two days. First day yesterday as the Central Rapporteur was opened by bill Clinton. That Ripple invited him to speak became known in August. To Clinton during a speech was also joined by the Director of the National economic Council, USA and member of the Board of Directors of the Ripple gene Sperling (Gene Sperling).
During a session of questions and answers with Sperling, Clinton touched on a range of issues, including cybersecurity issues facing the U.S. government. The former President drew attention to the problem of unequal access to new technologies, in particular to the blockchain, and drew Parallels with the development of electronic Commerce in the late 90s.
“The more you develop new technologies such as the blockchain… artificial intelligence, robotics…. the more you will feel the unevenness of access to them”, — said the speaker.
Clinton also recognized that new technologies cannot avoid the abuse of them. In the context of cryptocurrencies, most likely, meant that they could be used by terrorists or fraudsters for money laundering. The former President is again an analogy, this time with a global positioning system (GPS), which has caused similar concerns. According to Clinton, in order to discover which negative aspects and vulnerabilities of such technologies, you need to make an intellectual effort, and does not apply to him the old regime.
“You’ll end up killing the goose that lays the Golden eggs,” concluded bill the idea.
Speaking of blockchain, the speaker mentioned the main, in his view, the advantage of this technology is the possibility of using it to transfer across national boundaries and between population groups with different income levels.
“The number of options and possibilities is incredibly large. But we can destroy it all because of the negative identity politics and economic and social policy,” concluded Clinton.
It should be noted that the organizer of the conference — Ripple — active in trying to affect the legal status of the cryptocurrency. Last week, the company topped the lobbying group that will seek to update the regulatory regime.