Bitcoin has Every Government Bothered and Nervous: Erik Voorhees, ShapeShift CEO

Erik Voorhees Of ShapeShift Thinks That Bitcoin Can Help Stop Fiat Scam, Provide Viable Alternative

CEO of ShapeShift, Erik Voorhees recently had an interview with popular crypto journalist Naomi Brockwell in which he gave his views on the 10th anniversary of Bitcoin's WhitePaper.

The talk incorporated an assorted spectrum of topics concerning Voorhees’ knowledge and ideas on crypto assets. Brockwell asked the prominent ShapeShift executive to recollect how he first viewed this nascent industry.

Erik said that he first came across the Bitcoin phenomenon in May 2011 on Facebook, back when the social network giant was actually useful.

Addressing the issue of governmental engagement and regulation around cryptocurrencies, Voorhees pointed out that originally, he was very nervous that the U.S. government would have been firmer on Bitcoin due to the “existential threat” the blockchain-based asset posed to centralized systems.

Voorhees noted that the regulatory authorities have been more understanding than foreseen, which he attributed to authorities failing to realize the power that decentralized systems, pose to the centralized world.

Voorhees added, “Ultimately it has gone from a little niche project to something that a lot of normal, respectable people understand and talk about. And blockchain technology is becoming something that is [obviously] harder to vilify.”

However, he thinks that crypto still has a long way to go. Although in its nascent state, Erik thinks that it has a very high chance of radically changing the entire infrastructure of the financial world.

“I was fearful in the earlier days that the US governments and like the other governments would be harsher on Bitcoin, that they would see it as an existential threat to their own currency and this they would fight it tooth and nail.” “It [Bitcoin] certainly came a hell of a long way. I mean every financial institution in the world is watching it, every government is somehow bothered and a little nervous about it. Tens of millions of people have used it, most people in the developed world have heard of it at this point. So yeah, it’s made a huge progress.”

Decentralized technologies and crypto assets are “immensely powerful,” according to the crypto fanatic and possess the power to change the world like the arrival of Gutenberg’s Printing Press or the Internet.

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