Bill Gates, co-founder of Microsoft and one of the richest people in the world, shared his thoughts on the potential of digital currencies to help those living in poverty.
He adds that if we have the opportunity to build a financial system from scratch, it will be built on a digital platform. Since we do not have this luxury, we have to show the vision necessary to plan for this digital future, but also be wise enough to manage the transition. Gates says:
“It’s a big responsibility, but with more than 2.5 billion people who can not access formal financial services, the opportunity forces us to do so”
Gates also explains that the poor have assets – their thinking, their work and their savings – but they do not have access to the financial tools to take advantage of these resources. The digital system, which is digital and extraordinary, will have a direct impact on the poor as well as the development of a range of development activities such as agriculture and health care.
Thus, the co-founder of Microsoft says there are priorities in the near future: to lead policy changes to ensure the participation of the poor, and to set up a system to track the progress made by beneficiaries of their new financial system.