Former US senator Judd Gregg: Bitcoin can change the world

nRunaway Comment: Former governor of New Hampshire, Senator Judd Gregg, a three senator, commented yesterday that he outlined the reasons why people believe in Bitcoin, the purpose of Bitcoin, and what it means for the global economy. In the article, Gregg simply compared the difference between Bitcoin and gold, noting that the key difference between the two is that Bitcoin is not held by the central bank. In addition, he also expressed optimism about bitcoin in the article, pointing out that bitcoin can indeed change the entire world of business transactions.n
nTranslation: Clovern
Judge Gregg, a former New Hampshire governor and three-time senator, said he believes Bitcoin can change the world’s perception of currencies.n
In a commentary published yesterday, Greg Hill outlined his reasons for believing people believe Bitcoin, how Bitcoin is used, and what it means for the global economy.n
Gregg simply compares bitcoin with gold, pointing out that the latter is valuable because of its rarity and widely accepted by banks, which rely primarily on the belief of their owners. The key difference, he writes, is that bitcoin is not currently held by the central bank.n
Because bitcoin is not under the control of any country, government or central bank, Gregg said: “It sounds great, so people would say ‘sprinkle some magic powder and we’re in the world of dreams.'”n
He continued:n
n”But that’s an overly traditional view that bitcoin can indeed change the entire world of business transactions.”n
nHe said if people have good reason to believe that bitcoin or subsequent cryptocurrencies have real value, then it could usher in a “new era,” a new era in which the world currency will have “amazing” potential.n
However, Gregg also pointed out the importance of the U.S. dollar in today’s world economy and said “it is difficult to predict when the U.S. dollar will lose its status as a core element of the world’s commerce.”n
Just as the former Senator made the above remarks, American politicians are also gradually awakening to realize the technical and financial implications of cryptocurrencies and blockchain technology.n
In June 2017, Nevada Senator Ben Kieckhefer launched a new law paving the way for the state to attract new blockchain businesses. This law prohibits the tax on blockchain technology in Nevada and at the same time recognizes the legitimacy of blockchain signatures.n
In March last year, the legislative proposal, sponsored by Sen. Eric Brakey of Maine and submitted to the Maine Senate, was used only in conjunction with the block vote and paper ballot papers in a special study election.n

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