What Does Bill Gates Think about cryptocurrencies?

What Does Bill Gates Think about cryptocurrencies?

When we speak about cryptocurrencies, the attentions are drawn to all the wealthy who add to their asset through investment in the field of cryptocurrencies. However, these new technologies have other aspects that elucidating them will be more attractive when it is heard from a contemporary genius like Bill Gates. Bill Gates, opposite to the general public, looks at the cryptocurrencies from a new angle and believes that cryptocurrencies can greatly help poverty decrease in the world. Microsoft founder, in his speeches about Bitcoin, Litecoin & Ethereum is seeking to find solutions to limit poverty range in the world. He says that about 2.5 billion people in the world do not have access to financial services. This issue widens the gap in societies and extends the global poverty range.

How Will the Role of Cryptocurrencies Be in Decreasing Global Poverty?

Bill Gates believes that developing technologic infrastructures to use decentralized financial systems should be one of human’s priorities since, through new technologic infrastructures, there will the possibility for the people in different parts of the world to access various goods and services with much lower charges from now on. With the help of decentralized payment systems, different people in the world, especially undeveloped or developing countries can enjoy facilities such as nominal payment charges in international transactions. These people’s access to the loans and international insurances will be easier too.

Will Cryptocurrencies Remove Poverty?

Very interesting studies have been carried out in the field of opening an account. These studies show that the families who have access to the bank accounts will improve more regarding welfare comparing to the others. For example, these people’s access to healthcare and medication, education, etc. services will get more by opening more bank accounts, since given this condition, accessing to state services and financial and welfare institutes will increase.

Bill Gates acknowledges that low-income families and underdeveloped countries have assets too. They have thinking power, physical power, and stores which will enable them to employ their assets through accessing to the investment tools and resources. Apparently, cryptocurrencies and related platforms to it will be very effective and fruitful to reach resources and tools.

What Will the Result of Benevolence and Technology Be?

Bill Gates has frequently been present in doing benevolent activities. Among the activities of his charity foundation is developing educational equipment for the girls, the possibility of using clean and healthy water in different parts of the world and attempts to destroy malaria. In the past, this benevolent genius’s view toward Bitcoin was not with good willing and considers investment in cryptocurrencies unsuitable and useless; however, with passing the time and specifying positive capacities of digital currencies as a functional and fast tool in different transactions, Gates has found a new look.

If the plans to destroy poverty via cryptocurrencies are organized, there will be the need to careful persuasion systems which will provide using these new technologic platforms practically and in reality for the poor.