Bill Clinton: Don’t Over Regulate Blockchain
Former U.S president Bill Clinton has spoken to the audience during Ripple’s Swell Conference in San Fransisco.
Clinton has made his remarks about Blockchain in the event and during with a session in the conference, Clinton joined by Gene Sperling, former White House advisor, who is currently working for Ripple as a director.
Clinton, who was the president of the United States between 1993 and 2001, said in a Q&A session with Sperling Clinton said:
“The more you develop new technologies like blockchain … AI technologies, robotic technologies … the more the disparity of access is going to be felt.”
Clinton also added this kind of new technologies can be abused, meaning that cryptocurrencies can be used by terrorists and money launderers, etc. Clinton also noted the regulators need to be careful when regulating this technology as they have to make sure it will be a right fit for all parties involved.
You can’t apply old regulatory regime into a new technology. That is not going to work. If you do that, you end up killing the goose that laid golden egg.
Clinton discussed the wide variety of topics during the conference such as his recently published novels, gun laws and the foreign policy of the United States. Finishing with Blockchain, Clinton said:
“This whole blockchain deal has the potential it does only because it is applicable across national borders, income groups.The permutations and possibilities are staggeringly great. But we could ruin it all by negative identity politics and economic and social policy.”