J. Christian Giancarlo has stressed the importance of upholding values of liberty, privacy and economic freedom in a keynote address in London.
The former head of the United States Commodities and Futures Trading Commission has made a compassionate plea for central bank digital currencies and stablecoins to uphold libertarian values by design.
Giancarlo drew a comparison to the early days of the internet, saying that 30 years ago nations like the U.S., England and other leading democracies enabled the “internet of information” reflected the values of open and free societies. “Let's set standards for digital currencies, sovereign and non-sovereign CBDCs, and stablecoins that are worthy of human liberty, and people everywhere who aspire to liberty.”
Giancarlo said that cryptocurrencies and blockchain technology have increased speed, efficiency, automation, and have lowered costs, unlocked new business models, challenged traditional market structures and displaced intermediaries. Meanwhile Bitcoin’s market capitalization has surpassed the swiss franc as the 13th biggest worldwide currency. Giancarlo said the reality of the landscape is that people around the world will be using a variety of digital currencies in tandem:
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