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
A film backed by Image Nation Abu Dhabi, has obtained an Oscar nomination for two-time winner Denzel Washington
Roman J. Israel Esq., a film.
ADNOC has stated plans to notably expand its utilization of carbon capture technology
Abu Dhabi National Oil Company (ADNOC).
Robotic educating assistants are being positioned into autism centres in the UAE
Robotic educating assistants are being positioned.
Abu Dhabi fund’s Aabar Investments unit is the second-largest shareholder in RHB Bank
Abu Dhabi sovereign fund Mubadala Investment.
Qatar: 13 out of 19 World Cup contractors overworking their employees
A report into conditions faced by.
Dubai: Heritage tourism renovation project aims to attract 12million visitors to historical district by 2020
A project to renovate some of.
Dubai: Danube Properties announce $81m Jewelz project
Dubai-based developer Danube Properties has announced.
Amanat Holdings has reported that it has gained a 35 percent interest in Abu Dhabi University Holding Company
The investment company, Amanat Holdings aiming on.
Sabic purchased the 24.99 percent stake from White Tale Holdings
An activist investor targeting Clariant abruptly.
KPMG’s Autonomous Vehicles Readiness Index showcases global best practices to assist countries increase their adoption of autonomous transport
The UAE has been recognized in.