Bill Clinton supposes that too much regulation can lead to the death of ‘Golden Goose’ of Blockchain

On Monday, a crypto industry conference was taking place and one of the speakers was Bill Clinton. He pronounced a warning as for too severe legal regulations and called the sphere of digital currencies a tech advance with future. Clinton took part in the conference held in San Francisco and was sitting on the stage […]

By - October 3, 2018
Bill Clinton Blockchain

On Monday, a crypto industry conference was taking place and one of the speakers was Bill Clinton. He pronounced a warning as for too severe legal regulations and called the sphere of digital currencies a tech advance with future.

Clinton took part in the conference held in San Francisco and was sitting on the stage next Gene Sperling, a person who used to hold a position of an advisor in the US government and now is a member of directors board in Ripple. Clinton took the place of Ben Bernanke who was a top speaker a year ago.

However, Ripple has made several significant steps forward within several last months. The first and most important achievement is a creation of the Securing America’s Internet of Value Coalition (SAIV) that is going to process payment to its DC lobbying firm in XRP.

Answering the question session Clinton covered several important themes including non-excellent cybersecurity, gun laws, relations with other countries and the novel he has just published.
Probably, there was only one Clinton’s remark of the most relevance. He said about a despair access to the blockchain technologies emerging today and compared it with e-commerce that started developing at the end of 1990s.

His words emphasized that this disparity is caused by incessant development of modern tech and people’s inability to keep up with this speed.

He could not avoid the topic of tech abuses: modern crypto industry is a source of money laundering and terrorism financing. Making a reference to similar challenges faced by GPS he mentioned about a necessity to understand the drawbacks and look for new regulations to new technologies.

The use of old regulations, according to his words can lead to killing the goose laying the golden egg.

Clinton’s comments about blockchain say that the last one became so popular thanks to its applicability on any continent. He focused on great permutations and possibilities of blockchain, but warned that they can be ruined by negative politics.

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