Over the last 12 to 18 months, a growing number of central bankers have become open to either peer-to-peer digital currencies or blockchain technology. In the case of the Federal Reserve, it has started opening its mind to both.
According to Reuters, speaking at a technology conference in Minnesota, Minneapolis Federal Reserve Bank President Neel Kashkari said that the blockchain technology has a lot more potential than cryptocurrencies like bitcoin.
“I think sentiment has shifted in the markets, in the Fed,” he said. “I would say I think conventional wisdom now is that blockchain and the underlying technology is probably more interesting and has more potential than maybe bitcoin does by itself.”
It makes sense as to why Kashkari, and others like him, are championing this technology. Blockchain is a public ledger of transactions that is maintained by networks, and it is utilized all over the world to record, track and monitor transactions and assets.
What better way to monitor the general public than by using blockchain technology!
Remember, whenever you have a central banker praise something that was once deemed to be a tool of terrorists, criminals and drug dealers then it is time to start being cautious. The government never has your best interests at heart.
The state is the negation of liberty.
Leave a Comment