Edward Snowden made interesting remarks about Bitcoin
In his recent statements, National Security Agency informant Edward Snowden discussed the Bitcoin and Blockchain technology. Correspondence with Snowden:
Imagine an old database where each entry can be changed by clicking on it and pressing “save”. Now imagine your bank balance on the entry. It wouldn’t be so good if somebody would reset your balance, right? Unless you have a student loan.
Snowden stating that Blockchains are an effort to create the history of non-manipulated transactions
The oldest and most well-known concept of Blockchain, we’re talking about Bitcoin, a new form of money. However, in recent months, we have seen the effort to bring together all kinds of records in these dates. Things that should be remembered and not changed. Health service records, for example, also deeds and contracts.
There is no disassembly mechanism or another ,let’s be bad all button, and in order to create something like this, a global consensus usually requires at least 51% of the network to support the change of rules.
Snowden asked if the crypto money would help bad actors commit financial offenses:
They can harm them, leave the evidence of their bad intentions on the computers, depending on the Blockchains. In the last 10 years we have learned that government investigators are seriously skilled in penetrating them.
Snowden says some people think that Blockchain can now censor and finish the status quo in monopolid. Snowden’s forward-looking wish is also in this direction.