Ed Moy, who was head of the US Mint from 2006-2011, shares his thoughts on digital currencies and Bitcoin in particular via Money News. Moy says:
“The next five to 10 years will be critical.
But like how the mobile devices, Internet, cable, television, movies, musicals, operas and symphonies all have found their niches, the same will be with currency. Precious metals like silver and gold will co-exist with coins and bills (necessary if the lights go out or cyber attack), checks and money orders, credit and debit cards, online payments and digital currency.
Competition begets innovation and the best innovations find their place in a free market, even forms of currency. In other words, digital currency may eventually be the most important player, but not the exclusive player.
In short, I don’t think anyone knows for sure, but digital currency seems to be the next logical step in the evolution of currency. This technology has the ability to disrupt the status quo and springboard the global economy into the future.”
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