U.S. lawmakers received a letter signed by 26 technologists criticizing cryptocurrencies and their underlying technology.
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- The letter was signed by a former engineer from Microsoft and a member of Google Cloud cloud servers are typically located throughout different data centers all over the world. .
- They argued against Blockchain, saying that it has ” few uses”.
- Some cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. experts disagreed.
A group of experts, academics and tech industry professionals have approached U.S. lawmakers to seek to persuade them of the positive arguments of digital currency currency is a medium of exchange that defines value. enthusiasts about that sector.
According to a report by Financial Times The group of 26 technologists, which includes members of some reputable tech companies and notable cryptocurrency skeptics, sent a letter to members of the Senate urging them to “ withstand the pressure ” from cryptocurrency lobbyists. Several news outlets picked up the report.
The signatories to the letter include the professor of Harvard Bruce Schneier, the former engineer fromMicrosoftMiguel de Icaza, and the chief engineer of Google Cloud , Kelsey Hightower, reveló Financial Times. Also signed are British-Canadian tech blogger Cory Doctorow, and crypto-skeptic David Gerard, according to Decrypt .
Technologists criticize Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. and cryptocurrencies
The letter, which was cited in the report, argues that technology Blockchain tiene “ few, if any, uses in the real economy. “and more broadly criticizes the digital currency sector, saying that such assets can pose threats to national security, risks to financial stability and massive climate emissions.
It also urges regulators to “ take a critical and sceptical approach to industry claims that cryptoassets are a breakthrough technology that is absolutely fine “. CoinDesk quoted an excerpt from the letter:
We urge you to resist pressure from financiers, lobbyists and promoters of the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset industry to create a regulatory safe harbor for these risky, flawed and untested digital financial instruments.
The group further described blockchain technology as “ a solution in search of a problem “and concludes that technology ” has severe limitations and design flaws “.
“ Blockchain technology cannot and will not have transaction reversal mechanisms because they are antithetical to its basic design. Del mismo modo, la mayoría de los productos financieros públicos basados en Blockchain son un desastre para la privacidad financiera; the exceptions are a handful of emerging privacy-focused Blockchain financial alternatives, and these are a gift to money launderers “, the document adds.
“We’re counter-lobbying.”
According to reports, the letter is addressed to Senate Majority Leader Charles Schumer and Minority Leader Mitch McConnell, as well as key Senators Patrick Toomey y Ron Wyden who have previously voiced their support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for the cryptocurrency industry, as pointed out by CoinDesk .
That news portal also cited statements by software developer Stephen Diehl, a well-known cryptocurrency critic who runs a blog where he expresses his stance against it, who said the letter is about counter-pressuring Washington. ” We are counter-lobbying. The crypto industry has its people, they say what they want to politicians “, sostuvo.
Meanwhile, some industry enthusiasts have voiced their disagreement at these efforts. Among them, Matthew Green, who teaches cryptocurrencies at Johns Hopkins University, argued that the language of the letter has some shortcomings and arguably makes misleading claims about the technology’s capabilities. Blockchain .
In case you think the authors are just pointing out some warts in the area, let’s be very clear about their conclusion. This entire area is fundamentally technically unsound and cannot be redeemed. pic.twitter.com/RSby14epb7
— Matthew Green (@matthew_d_green) June 1, 2022
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Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash
