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Eugene Kaspersky: Cryptocurrencies Will Be Banned When They Unsettle National Currencies

Last Updated March 4, 2021 4:46 PM
Samburaj Das
Last Updated March 4, 2021 4:46 PM

Kaspersky Lab CEO and co-founder Eugene Kaspersky says that cryptocurrencies are a brilliant invention while noting their viability in a single world government. He adds that if and when they start supplanting national currencies, governments will move in to ban them.

Eugene Kaspersky revealed his thoughts about cryptocurrencies such as Bitcoin at a recent event in Russia. Speaking to assembled journalists during Kaspersky Digital Radio an open talk conference along with other prominent governmental and banking figures from Russia, Kaspersky sees the innovation and the creation of cryptocurrencies as a “brilliant invention.”

The full video of the talk event, courtesy of Digital October, can be found here.

Kaspersky said:

I think cryptocurrencies are a brilliant invention and yet, the world isn’t ready for it, geopolitically speaking. If there were a unified world government, with the world united in a singular society, then cryptocurrencies would be perfect for such a world. This is the future.

Kaspersky was speaking at a press conference that reminisced on the events and results of 2015. He was joined by Lev Khasis, deputy chairman of Sberbank, Russia; Artem Ermolaev, a Minister of the Government of Moscow and the head of the Department of Information Tech in Moscow; and Danny Perekalskiy, CEO of Ozon.ru, a prominent Russian online retailer.

After praising cryptocurrencies, Kaspersky also urged caution, pointing to governments and central banks being threatened by the decentralized innovation.

I am beyond certain that different countries will try to forbid the use of cryptocurrencies, because they are beyond their control. Authorities will not pay attention, as long as [cryptocurrencies] do not pose a threat. When they [cryptocurrencies] start supplanting national currencies, they will be banned immediately.

Kaspersky also spoke about the potential of blockchain technology and its many possible applications in different industries. As the CEO of the world’s largest private company selling security software and solutions, Kaspersky also touched upon the importance of cybersecurity in a connected world.

We have finally entered the digital age and has long been conducting” double life. ” Now almost all the events that happen to us, and all of our business – whether it’s calling their parents or maintenance workers negotiating, buying concert tickets or making plans to vacation – committed using digital tools and fixed in the cyberworld.

He added:

Ssometimes, as in the offline world, users may be difficult to ensure their security in the face of the huge number of cyber threats. The task of business and the state – to make human environment, both physical and digital, convenient and safe.

Featured image from Wikimedia.