The former deputy says Bitcoin is not a debt solution, but Blockchain is useful

Former MP Adam Kenzenger responded to the idea that the cryptocurrency can bear the fruits of the American national debt, arguing that although Blockchain has practical applications in government and financing, Bitcoin is not an applicable solution to economic stability.

In a recent interview that you hosted Saksu To celebrate President Donald Trump’s first power, Crypto.News was invited to provide questions. Kinziner emphasized that although the cryptocurrency may have a role in the financial system, it is not a solution to address National debt.

Will Crypto play a role? No, I don’t think so. “

Kenzenger argued that even if it was Bitcoin’s currency (BTC) To reach the highly $ 5 million urinary predictions per currency, as some defenders claim, will not be a realistic tool for Reducing national debt.

“Maybe I am wrong. Maybe I am old.” “I may not understand this enough, but it is usually important in the government’s ability to control its currency in terms of autonomy and interest rates, when to put more money, and when to be withdrawn.”

He pointed out that paying the debts completely with bitcoin or any encrypted currency is likely to lead to severe enlargement, which shakes the stability of the economy instead of its reform.

“The idea that Crypto will grow and pay national debts and not to inflation significantly not possible. Look, the American national debt, and perhaps the debts of countries around the world, will not be salaries in our lives. It is not only.”

Instead of focusing on eliminating religion, Kinziner believes that the priority should slow its course and reduce the deficit. He said that maintaining the belief in American credit is the key to financial stability in the long run.

Kinziner on Blockchain technology

Kenzenger, who was sponsored by a decree of the two parties in 2016, confirmed the awareness of Blockchain’s capabilities, to confirm his belief in the interest of technology.

“No, I don’t think it has changed,” said Kenzhenger in response to Blockchain capabilities. “What I did not do is to keep pace with artificial intelligence and increase computing power that has expanded the Blockchain capabilities.

There are various interests in BlockchainAccording to Kenzenger, especially with regard to monitoring and implementation.

Kinziner is more interested in its practical applications. For example, Blockchain may be useful in areas such as government payments and health care systems (for example, medicare and medicaid) by reducing fraud.

In addition, the safety of online transactions and helping to verify the health of users can enhance different platforms. Overall, Blockchain carries great potential.

“But on the greatest theory, I think it plays a very important role, which is something we should not look at because what I learned in nearly 47 years of living is anywhere, and it is an application that works in one place.”

Despite the realization of the Blockchain capabilities, Kenzhenger remained skeptical in Bitcoin and other cryptocurrencies that replace traditional financial systems or serve as tools to reduce national debt.

Instead, Blockchain sees a technique that enhances current systems rather than a revolution completely.