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Bill Clinton says at Ripple Conference Blockchain offers breathtaking opportunities

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Ten years ago, a developer released a whitepaper for a new technology under the pseudonym Satoshi Nakamoto. This should revolutionize the global financial system. The first cryptocurrency, Bitcoin, was born. How much Nakamoto and Bitcoin have already achieved has now been proven again. Former US President Bill Clinton spoke at the Ripple Labs “Swell” conference in San Francisco. He also focused on the opportunities and risks of Blockchain technology.

Clinton was the keynote speaker of the conference. First, Clinton participated in a question-and-answer session with Gene Sperling, who had been his economic advisor from 1996 to 2001. Unlike the other lectures, however, the round with Clinton was not recorded. There is only one video recorded by a participant on a smartphone on YouTube. This shows a wide-ranging discussion, which mainly related to the two terms of Clinton as president. Issues discussed included security of borders, firearms control and North Korea. Occasionally, the discussion also returned to the subject of Blockchain.

At the end of his remarks, Clinton turned to the topic directly. He explained that Distributed Ledger Technology (DLT) offers “breathtaking” opportunities as it is independent of national borders. At the same time, Clinton warned that polarizing economic and social policies could ruin everything.

Bill Clinton believes in the future of blockchain technologies

So he said:

“The whole blockchain technique has its potential because it crosses nation and income frontiers. The variants and possibilities are breathtakingly large. Negative stakeholder policies and poor economic and social policies could ruin everything. Think about it. “

Later, Clinton advised the Blockchain and Crypto industry not to rush to act and keep an eye on the public interest.

He explained:

“The more benefits you get, the more careful you have to be.”

He also warned of the increasing speed of technology, particularly in the areas of blockchain, artificial intelligence, robotics and nanotechnology. These technologies have the potential to increase social inequality. As an example, Clinton cited the unsuccessful attempt to introduce broadband Internet at the national level.

According to a report, Clinton said that the public must be protected without slaughtering “the golden goose.” He compared the Blockchain with the enforcement of the economic Internet in the 1990s. The biggest challenge, according to Clinton, is to drive technology forward and exploit the economic potential without malicious forces taking advantage of it.

In this context, he stated:

“We have to prevent fraud against consumers, as well as the financing of criminal activities. Of course, one should not allow it to be used to simplify serious terrorist attacks. These are the challenges for every new technology. “

Sources: YouTube, The Street, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bill-clinton-sagt-auf-ripple-conference-blockchain-bieta-stoßenende-meglichkeiten/

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