- Gates Foundation is helping people in uplifting them in developing countries
- Moving money into more digital forms and getting transaction costs down is what the foundation is doing in developing countries
Bill Gates, in a recent interview with the publication house, has shared his bitcoin views. He informed that he is not bullish on bitcoin and advises his counterpart Elon Musk to be sure of his investments in Bitcoin.
Bill Gates Prefer Distance From Bitcoin Investment
Bill Gates is keeping away himself with the Bitcoin (BTC) buying. Dismissing the entrepreneur Elon Musk‘s love for bitcoin and moving towards the cryptocurrency, Gates is not bullish about the bitcoin.
Moving to the digital money or payment infrastructure to the BTC advocates is not just what he is thinking about. In an interview with some media publications, Gates expressed his views openly about the digital currency and said that he is just not eyeing BTC for future investments.
He believes that people do not have much money to spare and get drawn towards these manias. This is the reason that bitcoin does not interest Gates. He also cautious Elon on his too bullish nature and advice him to watch out the market before investing heavily.
Gates has also informed that he does not have any bitcoin and is not a short bitcoin. His foundation, Gates Foundation, is helping people in uplifting them in developing countries. Moving money into more digital forms and getting transaction costs down is what the foundation is doing in developing countries.
An Amidst Support of Digital Currency
He has mentioned the foundation and its work with digital currency several times in many of his interviews. He is a supporter of digital currency as he believes that one can see the transactions made by anyone. There is a different approach to the local currency. It is unattributed and deals with all the money laundering and terrorism-type regulations. Despite so many issues, it gives the convenience, and the low cost of a transaction explains Gates while discussing his views.
Some may argue that bitcoin is a digital currency that provides the solution to the financial problems to millions of unbanked people in the developing world. But what is a digital currency that Gates pointed out?
Well, his foundation is making all the efforts to help the people from the financial crisis. His foundation has a solution to this that involves the development of pro-poor, digital payment systems. These are the mechanisms by which individuals buy and sell. These systems boost innovation, competition, accelerate the development of digital financial products and services customized for the needs of low-income communities.
The foundation is planning to introduce interoperability in developing countries. They are also keeping a check that it is secure, safe from money laundering. The foundation is also very proactive in the regulatory field. It encourages the governments to set out licensing requirements, know-your-customer policies, and agent regulations. All these factors encourage innovation and competition.
As per Gates, financial inclusion is all about opening opportunities and lowering barriers. Where some risks go away, new challenges and risks emerge.
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