Mayor Of Chicago: Cryptocurrency Will Save Countries From Financial Crises

A new report featured in Forbes is in the latest digital currency news, outlining the statement of the Chicago Mayor Rahm Emmanuel – who was the former Chief of Staff for the President Barack Obama. As the post unveils, Emmanuel told a writer that the future for cryptocurrencies like Bitcoin is “affirmative.”

In detail, the Chicago Mayor spoke about the potential that cryptocurrencies have to play a serious role in the debt markets as well as the third world countries – especially where currencies can be unreliable. Even though Emmanuel does not know the entire operation of crypto, he remains positive that it could reshape the financial aspects of society.

As he 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.”

Emmanuel also noted that the nation states are falling apart while the “city states are emerging.” This is why Chicago and other major cities have their own wage laws, some of them even have their own income taxes and many other different regulations.

In times when countries like Iran and Venezuela are facing financial embargoes, cryptocurrency can be a possible way to maintain global transactions, according to Emanuel.

“Nation states are falling apart, or receding. City states are emerging, so the political structures we all grew up under are changing. 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 confidently said.

To sum things up, Emanuel said that he believes that “an alternative way of currency dealing with the debt markets is going to happen” at some point in the future.

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.
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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,” Emanuel concluded.