The head of the US Futures Trading Commission (CFTC), Christopher Giancarlo, noted the great potential of the blockbuster for the development of the economic sector. According to him, this innovative technology would be impossible without bitcoin and other crypto-currencies, reports Coindesk.
“It’s important to remember that if there was no bitcoin, then there would not be a distributed registry technology,” Giancarlo said.
These words were made during the hearings of the Senate Committee on Banking Supervision. Giancarlo added that he is not an “idealist dreamer”, but he appreciates the potential of the new technology, including its application in financial markets and the management of charitable foundations.
CFTC Chairman Giancarlo:
“We owe it this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.”
In his speech, he noted “the potential of technology to increase economic efficiency, reduce centralized systematic risks, protect against fraudulent activities and improve the quality of data.”