700 billion? What the hell are they going to spend the money on? This is like the trillions missing from the Pentagon.
Well at least we know some researchers are getting rich. Either that or research is code for buy Bitcoin.
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They just wanted to learn about Bitcoin, but then they looked into what currencies are and discovered that the traditional monetary system is a fraud! Now they are pulling funds to investigate the Federal Reserve...haha.
Impressive number right? But then again their defense spending is always blown way out of proportion. I think this is part of the bigger pictures where everyone is actually getting involved, but not publicly. Especially the banks: Ripple and R3 are a fine example. Rumors have it Goldman Sachs busy too. Of course they would most likely build a centralized blockchain, but they want to be in the game when the mainstream catches up. It is then up to us to be smart, and choose the truly free and decentralized solutions.
Agreed they are going to try and do crypto but centralized.