Ripple’s Swell conference: Bill Clinton says, the potential of blockchain technology is very high

The former president of the United States of America, Bill Clinton gave his insights about cryptocurrency and blockchain technology at Ripple’s Swell conference. He did so while referring to his time of presidency, drawing anecdotes from the emergence of the internet.

According to him, there was an initial disparity in accessing such technologies and the need to overcome such disparities was very important. He further added that the disparity of accessing technologies would increase with an increase in the development of technologies like blockchain, Artificial Intelligence, and robotics.

Bill further stated that there was a need to be very careful towards the regulation of newly adopted technologies. He added:

“You can’t apply an old regulatory regime to a new technology…you end up killing the goose that laid the golden egg”

Clinton was accompanied by Gene Sperling, the former economic advisor of the President during his tenure. Together, the both of them covered a wide range of topics, including foreign policies and the cultural issues which were persistent in the cryptocurrency and blockchain spaces.

The former President also spoke about the potential of blockchain technology, stating that it was very high and this was because the technology was accessible across national and international borders without excluding individuals based on their income group. He also spoke about the need for politicians to work together to ensure that an innovative technology like blockchain would not be affected by negative actions. He added:

“Everything could be ruined by negative identity politics and economic and social policy.”

According to recent reports, Matthew Roszak the co-founder and chairman of Bloq gave Bill Clinton his first Bitcoin [BTC] in a conference held at Washington DC in 2016. Hillary Clinton reportedly did not accept Bitcoin for her presidential campaign.

During the Swell conference, Ripple announced the launch of xRapid which focuses on ensuring faster cross-border payments. Some of the companies which will initially use the xRapid technology include MercuryFX, Cuallix, and Catalyst Corporate Federal Credit Union.

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