Founder of Overstock assures that blockchain technology will make impossible bribes to the government | eBitcoinics.com

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Founder of Overstock assures that blockchain technology will make impossible bribes to the government

news@eBitcoinics.com 14 Feb, 2019 news.eBitcoinics.com Views: 362

Patrick Byrne, founder, and CEO of the giant Overstock.com said in a MarketWatch interview that blockchain technology can make the government "super efficient and incapable of being bribed".

Also, the CEO commented that government services have reached a point where a fundamental change in their structure is necessary and that blockchain technology would be the optimal solution for this.

In this sense, Byrne proposed " build a government-as-a-service, a set of applications and companies that can take blockchain technology to the various services provided by the government to make it super efficient, cheap and unable to be bribed." In addition, the executive added:

"We could reach Venezuela with six laptops and create not only a functional society, but also one of the most advanced government systems in the world. We could take the Central Bank on a laptop. Everyone in Venezuela downloads a free application and suddenly they have the most advanced monetary system in the world. "

On the other hand, the CEO revealed that he hopes to finalize a contract with more than one country in the near future to radically modify his government services.

Recall also that in January, the company announced that it would collaborate with the state of Ohio in its initiative to receive tax payments in cryptocurrencies through the OhioCrypto.com platform.

Later, he commented that the government's adoption of cryptocurrencies and other emerging technology, accompanied by friendly legislation, is "the best way to ensure that the United States does not lose its place at the forefront of the global economy."

It is worth noting that in December, Kenneth Rogoff, professor of economics and public policy at Harvard University, said that governments around the world should "regulate and appropriate" the innovations of new asset classes such as cryptocurrencies, because a coordinated global regulation will be able to "revolutionize the prevailing systems", in a note quite similar to the one posed by Byrne.

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