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Bill Gates: "Bitcoin is an exciting new technology"

Avatar Guest Author 4 years ago

bill and melinda gates foundationIf you’re reading this, there’s a chance that you might already think that Bitcoin is an exciting new technology. Now, Bitcoiners around the world can feel just a little more vindicated in their opinion as it has been backed up by none other than Microsoft founder and philanthropist technologist extraordinaire, Bill Gates. Bill Gates has been known for decades as a visionary pioneer that tries his best to keep abreast of new technologies whether or not his projects are personally involved or not.

Bill Gates Answers the Bitcoin Question, Again

In a recent Reddit Ask Me Anything (AMA), Bill Gates answered one curious Redditor’s question: “What is your opinion on bitcoins or cryptocurrency as a whole? Also do you own any yourself?” Bill Gates answered:

Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don’t use bitcoin specifically for two reasons. One is that the poor shouldn’t have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn’t work.

Overall financial transactions will get cheaper using the work we do and Bitcoin related approaches.

Making sure that it doesn’t help terrorists is a challenge for all new technology.

Bill Gates, through the Bill and Melinda Gates Foundation, have started emphasizing the positive impact of digital currencies in third-world countries on continents such as Africa or Asia. Digital currency is used by companies such as M-Pesa to provide services in Africa that otherwise wouldn’t be possible. While these services are still a little too centralized for some of the hardcore decentralization buffs out there, they still illustrate a future of digital currency that is currently being pursued by big names such as Bill Gates.

Images from Wikipedia.

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