Andreas Antonopoulos Makes Case for Bitcoin Before Australian Senate — video included
Mar 4, 2015
Bitcoin evangelist Andreas M Antonopoulos has appeared before the Australian Senate as part of an inquiry into the local treatment of digital currencies.
The prominent bitcoin ‘guru’ made the case for bitcoin, saying that its unique architecture and payment mechanism had important implications for network access, innovation, privacy, individual empowerment, consumer protection and regulation.
Claiming that bitcoin represented a “unique opportunity in two areas for Australia”, Antonopoulos said:
“Bitcoin can introduce much needed competition in the retail payments industry, undercutting the expensive systems offered by credit and debit cards, whilst significantly improving security and privacy for consumers.”
“Secondly, the bitcoin industry can establish Australia at the forefront of the next wave of innovation of financial services. A wave that can extend financial services to more than two billion people throughout Southeast Asia, who are currently unbanked,” he continued.