What Does The Mayor Of Chicago Feel About Cryptocurrencies?

Cryptocurrencies have grown in popularity for quite some time now, and at a recent FinTech meeting held in Chicago, the city’s Mayor, Rahm Emanuel, reiterated the same sentiments and said that the adoption of cryptocurrencies on a larger scale was something that was quite inevitable. Emanuel, who had been President Obama’s Chief of Staff, however, accepted that he did not have the requisite knowledge required to completely understand the cryptocurrency ecosystem. He cited examples of Iran and Venezuela and elaborated on how nations which are experiencing financial instability could find respite and eventual answers in crypto assets which can act as a lifeline for economic recovery.

He stated,

“One day, somebody’s going to figure out – whether that’s Argentina, ten years from now, five years from now – how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you’re going to find out that this moment has arrived.”

He also added that he was encouraged and was becoming increasingly optimistic after observing blockchain’s “trend lines,” and claimed that according to the reactions so far, crypto industry’s future was quite positive.

He also said,

“The trend lines are affirmative for its future. I don’t know if that’s ten years, and I don’t know if that’s 20 years, but it’s affirmative. I don’t know what it is. I know it’s an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it’s not the top 100 things I would have to learn about.”

Rahm Emanuel joins the bandwagon of supporting the adoption of cryptocurrencies, with the likes of Jack Dorsey, Elon Musk and actress Gwyneth Paltrow. Emanuel’s statement at the FinTech event is also similar to the views presented by humans right advocate, Alex Gladstein. Gladstein had previously written Op-Eds and tweeted about how Bitcoin mattered in terms of financial freedom and was an “escape from economic control.”

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.