Skeptical of Cryptocurrency

Bill Gates: Bitcoin Apply Stupid Theory

Jakarta - Having previously said Bitcoin could cause death, this time Bill Gates insulted the digital currency because it was considered using the stupid theory.

Microsoft founder, Bill Gates, is known to be skeptical of cryptocurrency, one of which is Bitcoin. This time, he again asserted that he was in a stronghold opposite the lovers of one of the most popular digital currencies.

"As an asset, Bitcoin does not produce anything, and you should not expect that the value of Bitcoin will go up, it's like a really stupid theory of investing," he says.

In addition, he also has his own opinion on the Initial Coin Offering (ICO), the sale of newly issued coins. According to him, it is even crazier because of its highly speculative nature.

Although skeptical with Bitcoin, the second richest man in the world after Jeff Bezos did not mention the same thing about blockchain. As is known, the system is the foundation behind all transactions conducted using Bitcoin.

According to him, blockchain can remove the role of intermediaries in creating a secure system with a permanent record of transactions between two parties. In addition, a number of companies are also working to apply these technologies to various other sectors, such as shipping and trading.

One of them is Samsung is considering to implement blockchain technology in tracking logistics shipments globally. Based on Samsung SDS, a subsidiary responsible for providing ICT requirements on logistics requirements, the application of blockchain technology will cut shipping costs by 20%.