Microsoft Corporation president Brad Smith has argued that the only entities that should be tasked with issuing digital currencies are governments.
This is at odds with cryptocurrencies and blockchain's stated goal to decentralize economies and turn them into more of a libertarian dream where government institutions have a limited say in what happens with each individuals' assets.
Yet, Smith seems to disagree. “The money supply almost uniquely needs to be managed by an entity that is responsible to the public and thinks really only about the public interest and that means governments”, he argued.
Microsoft is also involved with the issuance and development of cryptocurrencies, something that Smith says he is not a “big fan of”.
Smith may not have much to worry about though, as governments are pushing firmly forward with the development of central bank digital currencies (CBDC).
From China to Europe, to the US, central banking authorities are working on making a future where such currencies a reality. CBDCs will be centralized though, even if China argues that its digital yuan would have “reasonably anonymity”.
Digital currencies will make it easier for law enforcement to track money-laundering and if such currencies become the norm, they may very well eradicate financial fraud completely.
Meanwhile, casinos continue to accept digital currencies because of their tech-savvy twist and popularity with audiences who enjoy such gaming options. There are many websites, including Bitcasino, 1xBit and BitStarz