Founder of Microsoft Corporation, Bill gates recently attended a Reddit “Ask Me Anything” session. During the session when asked about his views on cryptocurrencies like Bitcoin, he said, “The main feature of crypto currencies is their anonymity. I don’t think this is a good thing. The [government’s] ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now cryptocurrencies are used for buying drugs so it is a rare technology that has caused deaths in a fairly direct way.”
However when asked that real, physical currency is also used to fund illegal activity, he countered with the ability to send money via Bitcoin remotely. According to him cash transfers require a physical handover which can help detection. He also cautioned the users against price volatility and the speculation associated with ICOs.
more recommended stories
Founder of Hotmail, Sabeer Bhatia says business model of Cryptocurrencies is fraud
Sabeer Bhatia who is the founder.
Dubai Corporation for Ambulance Services (DCAS) has evolved the Immediate Response project
Dubai Corporation for Ambulance Services (DCAS).
Dubai Properties has revealed the Middle East’s greatest living green wall at Dubai Wharf
Dubai Properties has revealed the Middle.
UAE based NMC Health signs contract with Hassana Investment Company
UAE-based NMC Health has declared the.