Google’s Jared Cohen: It’s “Obvious” Bitcoin-Like Currencies Are “Inevitable”

silicon-valley10 Mar 2014 / Tech Crunch – Google Director of Ideas and former technology advisor to former Secretary of State Hillary Clinton, Jared Cohen, says that digital “crypto-currencies” like Bitcoin are here to stay. “I think it’s very obvious to all of us that crypto-currencies are inevitable,” he told the audience at SXSW, in conversation with Chairman Eric Schmidt, to promote their co-authored book, The New Digital Age.

The most popular digital currency, Bitcoin, has caused media and political firestorm for its wild swings in value, strong support from the libertarian hacker community, and association with the black market. “There’s lots of value to it,” he argues, but “there’s a danger to it not being regulated.”

Google Ideas is the search giant’s residential think tank that deals with governments, especially oppressive regimes. Bitcoin’s reputation has suffered from recent mass thefts, leading some critics to declare “Bitcoin is dead.”

If Google’s own lead on these types of issues believes that the inevitability of cryptocurrency is “obvious”, it’s a resounding validation of the beleaguered technology….. Read more

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