Former rape Adam Kinger pushed back the idea that Cryptocurrency could pay American national debt, arguing that blockchain has practical applications in government and finance, not a viable solution for bitcoin economic stability.
Recently held in an interview Saxo Crypto.news was invited to present questions, to mark the first 30 days of President Donald Trump to power. Kinjinger stressed that while the financial system of cryptocurrency could have a role, this is not a solution to deal with the national debt.
“Is Crypto going to play a role?” Yes, “Kinjinger said.” Is Crypto finally going to end all the currencies? No, I don’t think so. “
Kinjinger argued that even though the $ 5 million ultra-bullets per coin (BTC) were to reach the predictions, as some advocates claim, it is a realistic tool to reduce national debt Will not work.
“Maybe I’m wrong. I am probably old,” said Kinger. “I may not consider it enough, but usually autonomy in the government, to be able to control my currency in terms of interest rates It is important to pour more cash to pull it out. “
He said that paying a loan completely with bitcoin or any cryptocurrency would be a result of severe inflation, instead of fixing it, destabilizing the economy.
“The idea that Crypto is going to develop and pay national debt and it is not possible to have large -scale inflation. See, American national debt, and probably the debt of countries around the world, is not going to pay in our lifetime. This is not just. ,
Instead of focusing on eliminating the loan, Kinjinger believes that the priority should slow down its trajectory and reduce the deficit. He argued that maintaining confidence in America’s credit is important for long -term financial stability.
Kinjinger on blockchain technology
Kinjinger, who co-proposed a bipartisan resolution in 2016, confirmed his faith in the usefulness of technology, recognizing the ability of blockchain.
“No, I don’t think it has changed,” Kinjinger said in response to blockchain’s ability. “What I have not done is placed on AI and increased computing power that has expanded the capabilities of blockchain.
According to Kinjinger, blockchain has diverse interests, especially related to monitoring and implementation.
Kinjingers are more interested in their practical applications. For example, blockchain may be beneficial in areas such as government payments and healthcare systems (eg, medicines) by reducing fraud.
Additionally, it can increase the security of online transactions and help to verify the authenticity of users on various platforms. Overall, the blockchain has significant capacity.
“But on the big principle, I think it plays a very important role and there is something that we should not look below because whatever I have learned in my life of about 47 years, there is an application anywhere that there is an application anywhere It works in one place.
Despite recognizing the capacity of blockchain, Kinjinger used to doubt the place of traditional financial systems or as a tool for national debt reduction about bitcoin and other cryptocurrency.
Instead, he sees blockchain as a technique that increases existing systems rather than revolutionized.
