Special Agent Of The DOJ Shares Venezuela Bitcoin Adoption Thoughts At Chainxchange
At the Chainxchange blockchain convention, an interview was conducted early this month with Lilia Infante, a special agent in the U.S DOJ, Department of Justice, who was able to pioneer the very first cyber investigative task force that was looking into the use of crypto coins. She recently discussed her views on the increasing adoption of virtual currencies.
She went ahead to express her skepticism that is regarding the idea behind the widespread crypto coin adoption that is taking place in the western nations.
Agent Favors Crypto Adoption For Venezuela Over West
The US agent went ahead to discuss her opinion that is surrounding the adoption of crypto coins around the world. She was directly involved with the launch and also establishment of the DOJ very first cyber investigative task force that was mainly geared towards the criminal activities taking place in virtual currencies.
She stated that the main problem that exists is adoption as she wonders the type of importance people have put on privacy and immutability. Which are the factors that make bitcoin to be unique, but the main problem being, not enough people care. The average individual is very comfortable with their PayPal or their bank account, as most like to rely on someone if their transaction does not go through, making them useful.
But for her what is more important is the why and the motivation of using a particular service. A good example she gave was Venezuela, where she says she will definitely buy the bitcoin especially if the coin will cause hyperinflation. Thus, in this kind of situation, she is motivated to purchase and use Bitcoin.
She continues to say the main problem is in America as there is an abundance of different technology that is able to transfer value; thus, there is no motivation for people actually to go ahead and learn this new technology.
She Advocates For Cooperation
She went ahead to address the crypto community and encouraged collaboration to exist between the exchanges and the regulators within the market. Her reason was, if we want this type of technology to continue thriving in the market, then the crypto exchanges will need to come together and cooperate with the government.
She went on to say that most of the companies in the market that do not take the time to cooperate with the government do not survive. The reason being the government is here to stay, even though several libertarian individuals tend to think otherwise. Thus, it is usually in their great interest to catch the bad actors who will be able to make crypto look bad.
She states that their aim is not to have the crypto market be used for criminal activity; instead, it would be best if this market will be able to help them just like the banks do, this is in catching the money launders and the terrorists around. Thus, this will assist in cleaning out the industry.
The blockchain technology is something she has come to love, but she does not want it just to be associated with criminal activity as it has so much potential to offer the community. Thus, she would like to see it thrive much further than it has reached.