Larry Summers: ‘Blockchain Will Change Financial Practice’
Larry Summers is big on blockchain technology but Bitcoin not so much. The Former US Secretary of the Treasury isn't as critical as Jamie Dimon but still believes the cryptocurrency's popularity will fade. According to a CNBC report covering the Consensus event in New York former US Secretary of the Treasury Larry Summers told the audience how blockchain technology will disrupt the current way we handle finances. Summers gave a three-part summary of his vision of how distributed ledger technology will take hold and in the end Bitcoin will likely fall to the wayside. The moderated....
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Larry Summers, the former Secretary of Treasury of the Clinton administration, is impressed by blockchain technology and believes that it will change financial practice and exchange as we know it today. Dr Larry Summers is no stranger to the world of finance. He was the Secretary of Treasury of the Clinton administration. He has also served as the President of Harvard University and Chief Economist of the World Bank. When he makes a statement on matters concerning the financial sector, the world notices. Speaking at Consensus 2016 in New York, Larry Summers says: “Is the blockchain....
Former U.S. treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency will do better regulated in a sound way instead of being treated as a libertarian paradise. Larry Summers Sees Crypto Benefiting From Strong Regulation Lawrence Summers, who served as the Secretary of the Treasury in the Clinton administration and director of the White House National Economic Council in the Obama administration, talked about cryptocurrency regulation during an interview with Bloomberg Friday. A former chief economist at the World Bank, Summers is currently Harvard....
Former US Secretary of the Treasury Larry Summers took part in a fireside chat at Consensus 2016 today, in which he spoke in depth about emerging financial technologies such as blockchain and bitcoin and the impact such inventions could have both separately and together. Moderated by Alan Murray of Fortune Magazine, the session found Summers bringing the dialogue of the bitcoin and blockchain worlds closer together, as he framed the ideas less as competitors, but possible outcomes of a larger change in economic processes enabled by technology. Summers projected that there would likely be....
It is not impossible to see black money hoarders flock to Bitcoin or gold to store value. However, that does not mean the assets themselves are at fault. The topic of Bitcoin continues to cause controversy among financial experts. Larry Summers told the media how most Indians have already invested their money into other assets. Bitcoin is one of those assets, together with gold, or another form that is not But at the same time, this causes even more speculation as to how consumers use Bitcoin to evade taxes. Any financial asset not controlled by the government is subject to scrutiny and....
Larry Summers is a former US Department of Treasury Secretary. Furthermore, he is a former Treasury Secretary who happens to get a real kick out of bitcoin. For all of us, digital currency enthusiasts who just want everyone to get along, it's always nice when a politician or banking official of some sort shows their support and respect for bitcoin. After all, we're so used to witnessing the opposite that sometimes it can put a real damper on our outlook on life in the virtual economy. As refreshing as his stance may be, however, Mr. Summers is acknowledging the fact that bitcoin cannot....