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Monday, June 9, 2014

Julian Assange: Bitcoin is a Major ‘Intellectually Interesting Development’

   


Wikileaks founder Julian Assange has issued a glowing endorsement of bitcoin, labelling it “the most intellectually interesting development in the last two years”.

The 42-year-old Australian national was speaking via video link this morning at the Net Prophet technology and trends conference, taking place in Cape Town, South Africa.

He believes the next major innovation the world will witness involves the finance sector, and he suggests bitcoin will have a part to play in this.

Assange emphasised that traditional financial systems require laws to govern their operation, but digital currency doesn’t – the code behind it makes sure transactions are carried out correctly.

He emphasised his support of a financial system not controlled by regulators, claiming that the absence of regulation has enabled bitcoin and other cryptographic protocols to evolve and innovate incredibly quickly.

However, he conceded that the innovative nature of cryptocurrency and the financial diversity it facilitates has created difficulties for those working in the space. For example, a number of banks across the world have blocked customer involvement with bitcoin and even closed the accounts of some companies operating within the digital currency sphere.

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