Bitcoin (BTC) Safe Haven for Countries with Economical Troubles: Nick Szabo

Being of censorship resistant nature, the cryptocoin could turn as the road of safety for many countries that are currently facing various financial issues and crises or set on negative-status for international trade, believes Nick Szabo – known and respected cryptographer. Mr. Szabo added his thoughts on the current financial industry situation and how cryptocurrencies could fit in at the Uni of Tel Aviv on Jan 8th – Israel BTC Summit. The influence and center stage that Bitcoin and its following coins are appreciating is immense even during a time of crypto-market bleeding. As reported in a previous BTC related post on EWN – According to Vladislav Ginko, a lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration, the Russian government could be considering the acquisition of 470 billion dollars in Bitcoins as a way to switch part of its reserves from fiat to cryptocurrencies. His estimates…

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