This Billionaire Doesn’t Think The World Is Ready For Bitcoin, Crypto Can’t Replace Financial System Yet


Billionaire Eugene Kaspersky Doesn’t Believe That The World Is Ready For Bitcoin Yet

Eugene Kaspersky, a well-known billionaire and CEO of Kaspersky Lab, has recently affirmed that Bitcoin is simply a very innovative invention, however, he does not seem to think that the world is currently ready for it.

In a recent interview with Arabian Business, however, he said that he believes that this will, indeed, change… in 100 years. Yeah, you can see that he is not really very bullish on Bitcoin.

Bitcoin Adoption Would Require A “New World Order”

The main problem for Kaspersky, you see, is that he believes that digital currencies will eventually win the war and overtake fiat and paper money, however, his timeframe is simply different from the one of the Bitcoin evangelists and enthusiasts.

According to Kaspersky, only in a world with a “new world order” people would actually be able to use Bitcoin properly. Why? Because this idea would work better if the whole world had a single government instead of many different nation states as we got.

Kaspersky sees cryptos as a great idea but he also does not see the world as ready to embrace them because the globe is not united yet and it will not be anytime soon. Only in this “new world order” in which the world is more unified, he sees the real triumph of Bitcoin.

As this is not the reality yet, Kaspersky does not see how cryptos could take the place of fiat. These are essentially very intricate and complex systems that are rather hard to replace, especially when there are so many of them, one for each nation in the world.

He believes that even if the currencies of the future will not be paper-based, something decentralized as Bitcoin is still not the answer in the short-term scenario. By using the blockchain, however, he believes that some of the good things of crypto can really be used in other systems and would create future fiat currencies.

Cryptos Against Central Banks

Another point which was touched by Kaspersky is that cryptocurrencies are often seen as a sort of a threat to central banks because they want to take their control over money. This, he affirms, will lead to several central banks in the world banning the cryptos when they finally get more popular.

As long as cryptos are not a real threat, the authorities will not need to ban them, but as soon as they are recognized as something dangerous, he has simply no doubts that they will be banned immediately.

The example of the Reserve Bank of India and the so-called crypto ban of 2018 in the country is the perfect example. Cryptos are in a harsh situation in India right now as the RBI has banned banks from providing services to crypto companies.

This could actually happen around the whole world, which is the main problem seen by Kaspersky here. While it is hard to tell if many countries will attack cryptos like Bitcoin, India provides us with a good example of how the future can be dark.

A Contrast To Kaspersky: Jack Dorsey Believes That Crypto Will Unite The World

A person that cannot be said to not be bullish about cryptos is Jack Dorsey, the CEO, and creator of the famous social media network Twitter and the payment app Square Cash. According to him, Bitcoin will be an exciting direction in which the future is moving.

Dorsey is very bullish on Bitcoin and he does not believe that mass adoption requires the abolition of nations, something that we all know that is very unlikely at the moment.

He is a believer that cryptos will actually unite countries but in a different way. Bitcoin, he believes, could be used as a digital currency in the whole world and that is part of its charm.

Who is right? Dorsey or Kaspersky? There is a long debate to be made before we can decide on that.

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