Altcoin News: Mayor of Chicago: “the Adoption of Cryptocurrency Is Inevitable”

March 22, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Chicago Mayor Rahm Emanuel expressed confidence that the adoption of Bitcoin and other cryptocurrencies is inevitable due to increasing instability in the financial and political systems of the world.

Emanuel stressed that financial and political crises are pushing people to use cryptocurrency, as, for example, it happened in Venezuela. However, the mayor noted that no one can predict the timing of the universal adoption of digital assets.

“Nation states are falling apart or receding. City states are emerging, so the political structures we all grew up under are changing. One day, somebody’s going to figure out — whether that’s Argentina, ten years from now, five years from now — how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you’re going to find out that this moment has arrived.” he said.

Of course, Emanuel lacks clarity of language, but he clearly hints that the use of Bitcoin and other cryptocurrencies will allow ordinary people to “give up” the national economy. Citizens of countries in financial crisis will be able to keep their savings in digital assets, the price of which is not related to any organization or government. And although Bitcoin volatility was previously high, it has recently become more stable than the currencies of many countries around the world.

When asked about his opinion on cryptocurrency, the mayor of Chicago responded that this is not his competence, but “the trend lines clearly confirm the development”.

Note that Chicago has become one of the leading cities in the United States in the field of blockchain and cryptocurrency. It was the Chicago exchange CME and CBOE first launched Bitcoin futures.

Author: Marko Vidrih