Russian cybersecurity expert Eugene Kaspersky has said can be a success, but only if governments stop trying to control them or alternatively when all countries unite under a single global government. However, the billionaire does not believe will replace the existing financial system despite the currency’s “great” qualities.
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‘Government of the Earth’
to the Dubai-based magazine Arabian Business, Kaspersky opined that are ahead of their time. “ are a great idea, but the world is not ready for them yet,” said Kaspersky, chief executive officer of IT security company Kaspersky Labs.
“The world must be united if we want to have encrypted currencies. At the moment, governments will want to control them. I believe that in the future, perhaps in 100 years’ time, all the world’s governments will be one government. States will unite under the [global government] and only then we will have one currency. Some other currencies may be available, but on a global scale the currency will be unified,” he predicted.
, the world’s number one , has lost more than 80 percent of its value since its December 2017 high of almost $20,000, in a downturn that has shaken the industry to its core. The bear market has carried on into 2019, with core swinging between $3,300 and $4,000.
However, continues to grow. A number of businesses now accept and other for payment while institutional investors have started moving into the space – something that’s been described by observers as key to mainstreaming.
‘Digital Currencies Are Currencies of the Future’
In the Arabian Business interview, Kaspersky said digital currencies will dominate the financial system in future rather than fiat notes and coins. He argued:
Today’s digital currencies, such as , cannot replace the current financial system, but some of the ideas and techniques on which these currencies are based can be used in the future currency with little modification, leveraging technology.
As a single global currency, is viewed as key to ending willful currency manipulation, eliminating excessive transaction fees and improving transparency in global pricing, among other things.
Kaspersky Labs is a multinational cybersecurity and antivirus provider headquartered in Moscow, Russia and operated by a holding company in the U.K. It was founded in 1997 by Eugene Kaspersky, Natalya Kaspersky, and Alexey De-Monderik. The company, which reported revenue of $698 million in 2017, develops and sells antivirus software, internet security, password management, endpoint security, and other cybersecurity products and services.
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Published at Thu, 07 Mar 2019 01:18:36 +0000
