Patrick Byrne’s Cato Institute Luncheon Address: “Cryptocurrency: The Policy Challenges of a Decentralized Revolution”
Cryptocurrencies and blockchain technologies, like Bitcoin, are revolutionizing the way we think about government currency monopolies, transferring money across the globe, maintaining financial privacy and security, and verifying ownership of money or potentially everything. Their place in society and the financial system is rapidly expanding and with it a host of hopes, questions, and risks. Will they provide financial security outside of government systems, or will consumers be unprotected from losses? Will they ensure financial privacy or enable criminal activity? Will they replace central banking or serve as a new tool for monetary management? And will government regulations encourage, discourage, or remain neutral to these emerging and transformative technologies?