Ex-Trump Aide Steve Bannon Says Cryptocurrencies Will Have More Power Than Central Banks

The former aide to President Donald Trump - Steve Bannon recently praised and lauded cryptocurrencies and its underpinning blockchain technology. While appearing at an event last Tuesday in Zurich, Bannon talked at length about the potential applications of blockchain across different industries and how cryptocurrencies will emerge more powerful with time taking the lead over central banks.

Bannon said that digital currencies and blockchain will “empower [the populist] movement, empower companies, [and] empower governments to get away from the central banks that debase your currency and makes slave wages.”

He said that the decentralized functioning of digital currencies takes the control away from central banks giving power and freedom back into the hands of the people. He said: “Once you take control of your currency, once you take control of your data, once you take control of your citizenship, that’s when you’re going to have true freedom.”

Bannon has also remained as the former head of the right-wing media outlet Breitbart. While talking to the audience at the event, Bannon lauded the importance of decentralization saying: "Central banks are in the business of debasing your currency. Central governments are in the business of debasing your citizenship. The central technology conglomerates are in the business of debasing your own personal sovereignty and your own personal data.”

Bannon is said to have played a very critical role in framing the election strategy for Donald Trump during the U.S Presidential elections of 2016. Currently, he is seen touring the European continent spreading his message of economic nationalism and is looking forward to empowering new populist parties in the region.

Bannon during his address took a dig at Silicon Valley giants like Google and Facebook. He said that blockchain and cryptos can emerge as a powerful tool to challenge their establishments. He said that these companies have taken the control of data of millions of users across the globe and mine it to their profits making the average man nothing but a “serf”.

Considering Bannon’s views to be completely oriented towards the ‘right’ some may endorse his view on cryptos while others may not. His views, however, might certainly be taken with a positive stand by crypto enthusiasts and supporters of decentralized economy.