Jeffrey Wernick: Bitcoin Is People's Currency

July 17, 2018

In an interview with Business Insider, one of early Bitcoin investors Jeffrey Wernick said, why he decided to invest in the cryptocurrency in the first place. According to him, the main advantage of BTC is that this cryptocurrency has the potential to solve all problems related to fiat currencies, even the most difficult ones. 

Wernick explained, how the change in the relationship between the people and the government caused the first to have an advanced interest in issues related to money and gold. He believes, that these changes are caused by the current position of the authorities, who make a lot of decisions without the consent of their citizens, which affect the rate of a national currency. Wernick thinks, that Bitcoin can solve it.

He said:

"So it’s a people’s currency, it’s defined by the people, and it’s defined by rules and a protocol that people trust. And I think in a world where people don’t trust anything anymore, that it’s good to have protocols that people trust that they control themselves, that are not controlled by third parties."

It is worthy to note, that since October last year Wernick is a member of the advisory board of a cryptocurrency project Qtum. In June this year he took the same position in a digital wallet DataWallet.

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