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The U.S. Senate doubts that the blockchain will solve the problems of the financial system

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The Senate banking Committee, the US recognized the usefulness and potential of the blockchain, but believes that technology can not solve all the problems of the financial system.

At the hearing on the regulation of cryptocurrencies, us lawmakers criticized the statements that this technology will provide access to the financial system for the people living in inaccessible and remote regions.

According to Senator Brian Schatz, members of kriptonyte present blockchain as a wand, a wave which solves all the problems, but forget to mention the many real aspects and constraints. In particular, he said that, despite the huge potential of the technology, it is not possible to serve the community with low incomes, because now only 81% of the population have smartphones, which casts doubt on the democratic character of the use of these products.

Further, he also said there is no doubt that the widespread use of the blockchain in 20 years, but this will require you to solve a number of social and political issues. Therefore, it is important to know what this technology can do and what is not, because the formation of the regulatory framework should clearly understand the potential problems that may arise.

This hearing is a continuation of the discussion by American officials of launcher themes cryptocurrency Facebook. Recently, the company even warned investors that due to so much attention from regulators and politicians, can not guarantee the output of Libra.

text: Ivan Malichenko, photo: Shutterstock

Source:bitcryptonews.ru

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