Former New Hampshire governor and three-term senator Judd Gregg has noted that he believes bitcoin could alter how the world views currency. In a reviews piece posted by The Hill, Judd Gregg mentioned why he thinks people trust in bitcoin, how bitcoin might be used and what it could suggest for the worldwide financial system.
In comparison bitcoin to gold, Judd Gregg cited that the latter has value due to it is rare and extensively accepted by banks, even as the former is supported usually by the notion of its holders. The main difference is that bitcoin isn’t held by central banks presently, as Judd Gregg stated.
Since bitcoin isn’t managed by any country, authorities or central bank, Gregg said:
“It sounds so good that one is tempted to mention, throw in a few pixie dust and it is off to never-never land. All in all, that could be too conventional a view. Bitcoin could certainly alter the whole world of business transactions.”
Should people have enough perception that bitcoin or next digital currencies have actual value, and then it could bring in a new era and have amazing capacity as a global currency? However, Judd Gregg additionally mentioned the importance of the dollar within the global economic system nowadays, announcing it was hard to project a time while the dollar will not stand as a core detail of worldwide trade.
The ex-senator’s remarks come at a time while United States politicians are awakening to the technological and financial opportunities of digital currencies and blockchain.
In June 2017, Nevada Senator Ben Kieckhefer sponsored a new regulation paving the way for the nation’s broad bid to attract new blockchain startups. The bill prohibits the taxation of blockchain technology in Nevada, even as at the equal time recognizing the legality of blockchain signatures.
And in March remaining 12 months, a legislative concept submitted to Maine’s Senate, and sponsored by the nation’s senator, Eric Brakey, was aimed to create a commission devoted to analyzing the usage of blockchain along paper ballots in elections.