Why the Gates Foundation Doesn't Use Bitcoin
Software magnate Bill Gates has again spoken out on bitcoin in his third 'Ask Me Anything' (AMA) session on social sharing platform Reddit. The focus of the AMA was philanthropy and the work of the Bill & Melinda Gates Foundation. As a result, Gates' answer revolved around potential bitcoin applications in charity. In response to the question 'What is your opinion on bitcoins or cryptocurrency as a whole? Also do you own any yourself?' , Gates wrote: 'Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don't....
Related News
Bill and Melinda Gates Foundation (Gates Foundation) has in its 2015 Gates Annual Letter explained their "BIG BET" of improving lives of people living in poor countries within the next 15 years. This change in 15 years will be faster than any other point in history along the same time span. In this letter, they call for people to join their cause to accelerate the progress and create a big impact across the world. As a part of this initiative, they aim to create unprecedented opportunities to people in poor countries to access education, eat nutritious food and reap benefits from mobile....
Last month, the Bill and Melinda Gates Foundation awarded bitcoin startup Bitsoko $100,000 to help troubleshoot Africa's now-ubiquitous mobile money systems. The news, which followed a long application process beginning last September, came as a surprise to the team of six, not least because Bill Gates has been publicly skeptical about the future of the payment technology in the developing world. "They [the foundation] had not worked with any other bitcoin startups to our knowledge, so we were really not too sure if they would want to come on and us be their first," Daniel Bloch, Bitsoko's....
Bill Gates got an AMA (Ask Me Anything) on Reddit now and was questioned by dirtbikerr450 on Bitcoin for 3 hours ago. He has recently said that Bitcoin isn't good enough alone. The Reddit user asked: What is your opinion on bitcoins or cyptocurency as a whole? Also do you own any yourself? Bill Gates responds and gives us a more detailed answer: Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes....
During an interview onBloomberg TV's "Street Smart" today, Bill Gates responded to new questions about bitcoin and its potential to bring innovation to the payments industry. The technology advisor at Microsoft, founder of the Bill & Melinda Gates Foundation and recently crowned richest man in the world, in turn, provided short and somewhat muddled responses, though Gates addressed bitcoin more specifically than he has in the past. Calling bitcoin "exciting" because of its ability to provide a relatively low-cost transaction network, Gates told Bloomberg: "Bitcoin is better than currency....
Bill Gates has updated his stance on Bitcoin since calling it simply a "technological tour-de-force" months ago. Earlier today, speaking with Bloomberg TV's Erik Schatzker, Bill Gates admitted "the Bitcoin technology is key." Earlier today, Bill Gates gave the final speech at SIBOS 2014, the annual SWIFT banking conference held this year in Boston. The Gates Foundation recently pledged $50 million USD to fight Ebola worldwide. In his speech, Bill Gates shared his vast well of experience with the Bill and Melinda Gates Foundations' efforts to combat financial inequality around the world.....