Jeffrey Epstein, a former financial associate of Bear Strearns, founder of J. Epstein and Co, a fund management company recently spoke about the future of Bitcoin. It considers the digital currency as an asset is very promising. He said that counterfeiting is the main problem of the money traditional. Epstein explained that these frauds could disappear if one uses technology to identify them.
Every bitcoin has a unique id, he said. Thanks to this system, it is possible to identify the counterfeit coins. While many governments are still nervous to the use of this technology, some countries such as Japan and the United States have adopted it.
The Bitcoin a store of value ?
There is a legal definition of the currency. This is money that has a sovereign guarantee, a promise government that the value is safe. However, the Bitcoin is backed by the technology, and not by a State, explained Epstein.
He said that when we speak of gold as a store of value, this means that many users are willing to pay the same price for an ounce of gold.
The bitcoin is the future of money
Although Epstein has not revealed any details on its own funds of crypto-currencies, he pointed out that the bitcoin technology and the blockchain represent a leap forward for the way in which we conceptualize the currency. Since the creation of its foundation in 2000, the american billionaire has found a new hobby.
In effect, Epstein shares his resource for beneficial purposes. He does not hesitate to accompany the entrepreneurs in the realization of their project. Moreover, it has funded numerous research projects related to artificial intelligence, genetic engineering and quantum computing. The Bitcoin and other crypto-currencies led the governments and the users to ask questions and to re-evaluate their notions of money, he said.
Source : TheNextWeb