Ben Bernanke: Secure Payments

Posted by admin on Monday, January 17, 2022

Ben Bernanke Money Quote saying bitcoin may produce benefits for the financial system and purity of payments. Ben Bernanke said:
innovations promote a faster, more secure and more efficient payment system Quote

“[Cryptocurrency] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system” — Ben Bernanke


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In this quote, Ben Bernanke is acknowledging some potential benefits of cryptocurrency while remaining cautiously optimistic. By noting it “may hold long-term promise,” he suggests cryptocurrency could provide future advantages if certain technological improvements are made.

Bernanke specifically cites faster, more secure and efficient payment systems as innovations that would help realize cryptocurrency’s promise.

The quote implies Bernanke sees merit in cryptocurrency’s underlying blockchain and payment technologies, but only if and when issues around speed, security and efficiency are sufficiently addressed.

Overall, Bernanke appears open to cryptocurrency’s prospects if continued development enhances its functionality as a means of exchange.

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