Cryptocurrencies would be a success if governments stopped meddling with them, said Eugene Kaspersky. According to him, the technology is ahead of its time. If the world were under one government, it would be easy for cryptocurrencies to take hold.
Kaspersky predicted that in 100 years, there would be one global system of money. At that time, the world would probably be under one governing body. He said while speaking to Arabian Business,
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 [Government of the Earth] and only then we will have one currency. Some other currencies may be available, but on a global scale the currency will be unified.
The World is Shifting to Cryptocurrencies
Kaspersky noted that in the future, digital money would be more common than fiat. Even though Bitcoin has the most impact at the moment, it may not be as crucial in the future. He argued that the current cryptocurrencies would pave the way for the future global financial system. The tech used today will play an essential role in helping to create future currencies.
Some of the ideas and techniques on which these currencies are based can be used in the future currency with little modification, leveraging blockchain technology.
Less Competition for Use
The cybersecurity guru said that in future, cryptocurrencies would not compete for use. Right now, we have Bitcoin as the flagship cryptocurrency. Ethereum is the backbone for DApps and Smart Contracts, while Ripple is a remittance wonder. These currencies are currently engaged in a cut-throat competition for usability. Each coin is fighting for a chance to be in as many wallets as possible.
Kaspersky said that this would become less common as time passes. According to him, one universal coin would rule them all. It would corner the market and serve all financial needs.
In December 2015, Mr. Kaspersky held the same opinion. He had stated that this single currency would unify the international community. However, he had warned that governments which were unable to control the currencies would ban them. He said,
I am more than sure that different countries will take turns to prohibit the use of cryptocurrency because they can’t control it. As long as [cryptocurrencies] do not interfere, authorities won’t pay attention. Once they begin to displace the national currencies – they will be immediately banned.
Two years later, China went on to ban cryptocurrency ICOs.
Kaspersky is the founder of Kaspersky Labs, which provides digital security solutions. It had revenues of $698 million in 2017.
Do you think Bitcoin will be the currency of the future? Let us know in the comment section below!
Swiss Parliament Approves Crypto Regulations’ Motion
Bitcoin Cash Now Supported by a Large Swiss Crypto ATM Network
Report: QuadrigaCX Co-Founder Michael Patryn Was a Serial Convict
Quiz6 days ago
Quiz: 5 Questions About Cryptocurrency
News1 day ago
‘Switzerland’s Amazon’ Digitec Galaxus Starts Accepting Bitcoin
News3 days ago
Meet Andrew Yang, the Bitcoin-Friendly U.S. Presidential Hopeful
News6 days ago
Ex Mt. Gox Boss, Mark Karpeles, Found Guilty of Record-Tampering by a Japanese Court