It seems like Bitcoin has emerged as a superhero that will take everyone out of this financial crumble. A messiah, a prophet, a savior or a knight shining armor?
According to the biggest name in the tech industry, Bill Gates has shone his appeal for bitcoin and has made some big claims, but we’ll save them for now.
In a recent video, he has shown his affection for bitcoin by claiming that it has “the potential to empower those in the world that live in poverty”
Woah, woah, woah… hold up there. Is Bill Gates trying to say that bitcoin can be the answer, or better yet, eradicate poverty?? Something that every country in the world has been struggling with?
But before we trust Bill Gates on this claim let’s look at bitcoin and his past relationship.
It seems that Bill Gates has been against Bitcoin in the past. Four years ago he spoke to Bloomberg and said,
“Bitcoin is better than the currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
Looks like Gates has only recently truly opened his eyes to bitcoin and started appreciating it. He said that though poor might not have the financial tools to go about their lives but their hard work and labor should not be underestimated. An efficient economy further drags them down the rabbit hole called poverty.
His solution
You can’t make huge claims without having any argument supporting it in mind, especially when you’re this famous and significant.
According to Bill Gates, he proposes that the underlying economics can be changed through the digitization of money. This will not only help with the issue of poverty but it will also aid departments like healthcare and agriculture. Some of it is already taking place in Africa as it is one of the most poverty-stricken continents.
Small initiatives like Sun Exchange is a good example, through the SUNEX tokens the CEO Abraham Cambridge wants to make sure that “no child is forced to cook with unsafe kerosene or wood-burning stoves, no child has to worry about how they will study after dark and lack of energy access ceases to propel cycles of poverty.”
For Bill Gates, he has two priorities set for the future. First, is to come up with such policies that the poor can get engaged at some level and second to devise such a system that benefits people from the financial activity rather than just drawing them in to have accounts.
And all of this can be well integrated with the system of digital currency.
Do you feel optimistic about the future or does this seem like one of those all-talk and no-action things? Let us know in the comment section below!
