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US Regulator Gives Epic, Historic Speech at the UN on How Cryptocurrency Will Change the World


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7 hours ago, AB196 said:

Excellent speach! The words provide hope for the future and insight on the technical transformation towards an economic 'level playing field'.

This part I love the most:

"Crypto Can Battle Corruption and Create Fairness in Society

“My agency deals with corruption in our markets on a daily basis – as soon as a new product becomes available to the retail public, fraudsters come up with new ways to take advantage of those just seeking to invest their hard-earned dollars.

Now, with the advent of virtual assets, technology may provide a solution. And, the single greatest weapon against corruption may be the cell phone. There are 6.8 billion cell phones in the world, almost one for every person on the planet. Technology could simply bypass corruption. Here is our chance to put money directly into the hands of those who need it, without bribery, rake-offs, graft, and shakedowns. Virtual currencies could transform the economic and social landscape. It could mean a massive, and equitable, shift of wealth. Technology could be transformational, without a military take-over, civil war, or political or religious creed.”

Virtual Currencies Could End Poverty

“I know some have argued that virtual assets could be a way to spread the wealth and end poverty.  They have argued blockchain could be the means for ending poverty…that such a possibility should drive the virtual debate.

The so-called “unbanked” could now be on the virtual grid. And, those without computers, some four billion people, could gain an important connection through cell phones. And, the discussion has extended to micro-lending, micro-transactions, greater transparency, and greater financial inclusion. I used a word a moment ago that should echo throughout this hall: transformative. The old limits and parameters may crumble, with the dawn of new technology.”

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