Bill Gates on Bitcoin - Full Interview
"Well Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don't have to be physically in the same place, and of course for large transactions Currency can get pretty inconvenient." - Bill Gates, (1:51 below)
Full Interview:
"Its all about helping the poorest and one thing they don't have access to is bank accounts." - Bill Gates
http://www.coindesk.com/bill-gates-gates-foundation-doesnt-use-bitcoin/
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 use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work.”
Despite the skepticism however, in June 2015, "the Bill and Melinda Gates Foundation awarded bitcoin startup Bitsoko $100,000 to help troubleshoot Africa's now-ubiquitous mobile money systems."
According to a third article from CoinDesk, "Microsoft will soon enter the next phase of its blockchain work with the formal launch of its Ethereum Consortium Blockchain Network."
I hope we have people from Africa continent here on Steemit reading the post in order for us to understand the truth behind the statement of Bill Gates.
My own experience with countries like Nigeria, Ghana, Kenia and others is most poor people don't trust banks at all, so even when banks do try, they do not get sufficient customers. It are cash economies; cash is what the poor people trust. The poor people may trust their mobile phone operator more than banks and therefore the electronic money services they offer may be used a little bit more than banks. These services uses SMS to transfer money from 1 person to another (services like mPesa); the money itself resides on users prepaid account of the mobile phone company, ie they are now kind of bank.
welldone.