Did Alan Greenspan - former chairman of the Federal Reserve - predict Bitcoin way back in a 1996 speechNandibear.com
by Nandi Bear
October 12, 2017 - 4:26 pm
Excerpt:
Here's a thought-provoking Alan Greenspan quote found within Nathaniel Popper's book Digital Gold: Bitcoin and the Inside Story of the Misfits and the Millionaires Trying to Reinvent Money (2015) on page 17:
We could envisage proposals in the near future for issuers of electronic payment obligations, such as stored-value cards or 'digital cash,' to set up specialized issuing corporations with strong balance sheets and public credit ratings.
...
I wanted to verify that the Greenspan quote was accurate and also read that entire 1996 speech. The entire speech can found at the FederalReserve.gov website as well as archives (dating as far back as 1999) of the same at the Wayback Machine website.
The 1996 speech by Alan Greenspan ends with what he refers to as a conclusion:
In conclusion, electronic money is likely to spread only gradually and play a much smaller role in our economy than private currency did historically. Nonetheless, the earlier period affords certain insights on the way markets behaved when government rules were much less pervasive. These insights, I submit, should be considered very carefully as we endeavor to understand and engage the new private currency markets of the twenty-first century.
...
Read the entire article at: https://www.nandibear.com/did-alan-gree ... 996-speech