Business & Finance

Influential Personalities Endorsing Cryptocurrencies

Blockchain technology and cryptocurrency have directed world towards a new dimension. Cryptocurrency has particularly shown, economic and monetary systems, a new path. And while world is making its move for a progressive change, many influential people have backed it up for good.

Recently, Robert Kiyosaki, author of famous book ‘Rich Dad, Poor Dad’, advocated the prospect offered by cryptocurrency. He supported the idea of cryptocurrency and considered it as the future. According to him  cryptocurrencies guarantee sustainable finance market, unlike US dollar. He also strictly criticized the US dollar and regarded it as a ‘scam’ . He said:

The US Dollar is a scam…I think the dollar is toast because gold and silver and cybercurrency are going to take it out…The US Dollar is gone…In the year 2000 there was one currency, the US Dollar. It was called the reserve currency of the world…and then came bitcoin or cybercurrency.

Besides replacement for USD, he thinks cryptocurrency as money of people and mention about it in his latest book, Fake: Fake Money, Fake Teachers, Fake Assets. He elaborated his mentioning by revealing insights of his book. He said:

In my new book… I talk about the three types of money today: God’s money, which is gold and silver, government’s money which is fiat currency, which is done by government decree which is the dollar… Then there’s the people’s money, which is cybercurrency on the blockchain technology. Gold is a hedge and I am expecting a collapse on the system…[and] which is why you are into cybercurrencies now… bitcoin and ethereum.

Robert Kiyosaki is not the only one with a strong belief in cryptocurrency. Steve Wozniak, Co-founder of Apple, one of the recognized pioneers of personal computer revolution of 1970’s besides Steve Jobs, also showed trust on cryptocurrencies instead of gold and USD. He termed USD as ‘phony’ and simultaneously braced the stability of cryptocurrency over government banked currencies. Steve Wozniak stated that where U.S. government is capable of printing as many USD as needed, cryptocurrency has a fixed supply. According him, cryptocurrency is dominant than gold as well because unlike gold which will be diluted, cryptocurrency is mathematically regulated. He said:

There is a certain finite amount of bitcoin that can ever exist…..Gold gets mined and mined and mined…Maybe there’s a finite amount of gold in the world, but Bitcoin is even more mathematical and regulated and nobody can change mathematics.

Steve Wozniak welcomed other cryptocurrencies, altcoins and showed excitement related to platforms like Ethereum in his statement:

There is a lot more to this cryptocurrency than just the bitcoin.

The brilliance of cryptocurrency didn’t spare Google from getting impressed as well. Eric Schmidt, former CEO of Google, considers the technology behind cryptocurrency very valuable. He expressed his concerns related to the technology by pointing out Bitcoin.He said:

The ability to create something which is not duplicable in the digital world has enormous value…The bitcoin architecture, literally the ability to have these ledgers which can’t be replicated, is an amazing advancement.

Besides Eric, Jared Cohen, Director of Google, also expects cryptocurrency in future. He was so confident on cryptocurrencies that he regarded their success as very obvious and ‘inevitable’.

Back in 2014, when cryptocurrency was in its infancy, Bill Gates, co-founder of Microsoft, also shared positive remarks for cryptocurrencies. He stated that it could be used to buy things without needing a middleman and make transactions economical. In his interview, he regarded it better than currency. He explained why it was so by saying:

Bitcoin is exciting because it shows how cheap it can be….Bitcoin is better than 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.

Cryptocurrency has impacted the world by innovating the monetary system. Many influential people, founders and CEOs of world’s top brands, have been admiring the offerings and anticipations regarding cryptocurrency. Big names like Bill Gates and Steve Wozniak along with significant others such as Robert Kiyosaki and Eric Schmidt have large number of followers. Whatever they share or say is of extreme value to their devotees. So, it can be concluded that a difference in numbers of people bracing cryptocurrencies will undoubtedly be evident after the positive responses from these great personalities.

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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