Russian chess grandmaster Garry Kasparov thinks the widespread adoption of Bitcoin (BTC) along with other cryptocurrencies is inevitable as people look to take control of their privacy.
In an interview with Forbes, the former world chess champion, who famously played against IBM’s Deep Blue supercomputer, discusses the impact that central banks, with unlimited power to issue money, can have on the wealth and savings of individuals. Bitcoin, on the other hand, runs without the need for human intervention and features a hard supply cap of 21 million coins.
“The state has power to issue money, but again, if it gets out of control (as it has now), people are looking for alternative means of protecting their wealth and saving their fortune against inflation or uncontrolled state interference with their financial affairs.”
He says people are now more aware that many vital aspects of their lives are screened and owned by outside parties, so they welcome the emergence of blockchain and digital assets.
Kasparov, who now chairs the Human Rights Foundation, a non-profit organization that taps on Bitcoin and other digital technologies in its advocacy, thinks that cryptocurrency and blockchain provide people with an opportunity to fight privacy infringement and human rights violations.
“That’s why I think the steady rise in popularity of bitcoin and other cryptocurrencies and blockchain technology as a concept is inevitable, because it’s a response to the shift of power from individuals to states or other institutions that may act on our privacy without our consent.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.