Beyond cryptocurrencies, blockchain technology has been adopted in various sectors of the global economy.
American activist and whistleblower Chelsea Manning has revealed that she is optimistic about blockchain technology. However, he is skeptical about the economic aspect of the technology.
He made his point known during a interview with decrypt, stating that she has been a fan of bitcoin for a few years now. According to Manning, his initial view of bitcoin was that it was an excellent technology rather than a tool for creating wealth.
The activist said he thinks bitcoin is an experiment in developing a cryptographically based network as a decentralized means of storing information. he said that;
“I am very interested in technology” [of blockchain], but the economic aspect, I’m a little more skeptical. I don’t see how [that] As a permanent type system can switch from having some value to not having value very quickly.”
Manning said he believes blockchain technology could be used to revolutionize the sharing of information electronically, particularly when it comes to privacy, protecting the content of messages, and protecting the sources. When it comes to confirmation. When bitcoin became more about money than technology, his interest began to wane. Manning said;
“I walked away from it because I realized that there are a lot of people who don’t understand the technical aspects of it, or the security and privacy implications of this technology, but they see it as a brand that deserves to be a part of. Good for.”
Bitcoin is the world’s leading cryptocurrency and has been in that position since its launch in 2009. The cryptocurrency reached an all-time high of $69k in November 2021, but has since lost over 60% of its value.
At press time, bitcoin is trading above the $20k level with a decline of less than 1% over the past 24 hours.