In an unprecedented move, former US President Bill Clinton acted as keynote speaker for Ripple’s Swell conference in San Francisco.
Bill Clinton is not particularly known for his involvement in blockchain technology; however, the former president seemed quite comfortable at Ripple’s event on October 1. His keynote speech and subsequent chat were more anecdotal than technological, with tales regaling his experiences as US President.
Upon his eventual discussion of blockchain, Clinton remarked, “This whole blockchain deal has the potential it does only because it is applicable across national borders, income groups. The permutations and possibilities are staggeringly great.”
The ex-President continued with a warning, cautioning regarding calls for more regulation, especially surrounding Bitcoin:
“If things sound too good to be true, they probably are…We could ruin it all by negative identity politics and economic and social policy.”
Clinton has a history with technological reform. In 1995, he and Vice President Al Gore proposed an e-commerce protocol for the internet. The protocol was anti-censorship and implicated a no-tax policy. It became adopted internationally in 1997. Clinton also worked with various establishments, including schools, to ensure the adoption of new technologies and the internet, and increase access to computers and the internet.
Blockchain’s Criminal Past
In making these new reforms, Clinton had to counteract criminal enterprises while simultaneously ensuring that new technology could benefit the economy. This also applies in blockchain, Clinton said, but he remarked that regulation could kill the “golden goose” of blockchain. New technologies like AI and blockchain are necessary for future economic progress, he pointed out, and old regulatory procedures cannot be applied to new technology.
Blockchain appears to be no different regarding Clinton’s enthusiasm towards the adoption of new technologies. Despite not being a blockchain expert, by anybody’s standards, he still encouraged the adoption and exploration of blockchain and emphasised the necessity of these technologies in the US’s economic future.