There is a pressing need for a global cryptocurrency – but it will not be bitcoin, according to a former advisor to Donald Trump. Technological complications means that bitcoin is limited, but the technology powering it could become incredibly important, said Gary Cohn.
The former chief economic advisor, who resigned from the Trump administration in early March, said in an interview on this week that bitcoin’s underlying blockchain technology was more interesting than the actual virtual currency. As the world’s first cryptocurrency, bitcoin was the first to make use of the blockchain – an online ledger that serves as a permanent record of all transactions for the digital currency.
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