Brian Forde, a former Senior Advisor at the White House Office of Science and Technology Policy, believes that digital currencies can be used by the governments to improve people's welfare.
In a interview to Forbes, Forde stated that bitcoin technology can provide a better ID authentication system than the existing one. In his opinion, bitcoin also solves the problem of double spending. Forde also emphasised the importance of bitcoin for the unbanked and financially troubled population:
“Digital currencies have immense potential to improve human welfare by strengthening the capacity of governments to deliver more responsive services and secure the rights of their citizens to property, identity and increase financial inclusion…”
Forde revealed that, according to his knowledge, officials around the world take interest in the innovative technology. Bitcoin begins to attract attention of high rank government members.
As CoinFox recently reported, Russian president Vladimir Putin admitted that it was possible to use bitcoin in certain segments of the economy.He also revealed that he discussed the digital currency with the head of the Russian Central Bank Elvira Nabiullina. An unnamed official connected to the Central Bank informed the Izvestia newspaper that the regulator may start to regulate some of the bitcoin transactions such as remittances or payments to private accounts.
It is not only authorities who become interested in bitcoin. A former senior Vice President at Visa, John McDonnell said that bitcoin is “probably the biggest innovation in fintech since the introduction of electronic payments” comparing the online payment potential of digital currencies to the magnetic stripe card and Visa.
Aliona Chapel