Joseph Eugene Stiglitz is an American economist, public policy analyst, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences and the John Bates Clark Medal. Joe recently made an appearance on CNBC and did a quick 2 minute video on why he wants to shut down cryptocurrencies. He brings up a ton of great points! Which are all true! But here is the kicker he also brings up the value he sees in a more transparent, regulated electronic payments systems and digital payments.
The funny things is, as Joseph Stiglitz is describing this new electronic payment system what does it remind you off?….have a listen for your self.
- A lot of efficiencies in electronic payment system
- Better regulated economy
- All data in real time knowing what people are spending would enable fed reserve to set interest rates in an efficient way
- Curve the fake economic activities
- Without saying bitcoin, he describes the early days of bitcoin of moving money to a dark platform.
- For a more efficient economy we need to move to an electronic payment mechanism. Need transparency without the danger of surveillance.
Brad Garlinghouse has been grooming the word digital asset for years now, as he has been getting away from calling XRP a Cryptocurrencie. And he is right, XRP is not meant to be a currency like Bitcoin was, it was meant to be an asset to help bridge payments around the world.
Thanks to @TezzTheSalesman for this video make sure you give them a follow:
You can watch the full video here: