The US Senate doubts that the blockchain will solve the problem of the financial system 2 октября, 2021

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The US Senate Banking Committee recognizes the utility and potential of the blockchain, but believes that the technology is not able to solve all the problems of the financial system.

At the hearing on the regulation of cryptocurrency, US lawmakers criticized the application that this technology will provide access to the financial system for people living in hard-to-reach and remote regions.

According to Senator Brian Shatz, the representatives of Crypto Industry will present the blockchain as a magic wand, the wake of which solves all the problems, but forget to mention many real aspects and obstacles. In particular, he said that, despite the huge potential of technology, it does not allow to serve low-income communities, since now only 81% of the population has smartphones, which makes doubt on the democratic use of these products.

Further, he also stated that he had no doubt in the widespread use of the blockchain in 20 years, but this would require a number of social and political issues. Therefore, it is important to know that this technology can do, and what is not, since the formation of a regulatory framework should clearly understand the potential problems that may arise.

This hearing is a continuation of the discussion by American officials the topics of Facebook cryptocurrency. Recently, the company even

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