Crypto adoption is ‘inevitable,’ says Chicago mayor

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The mayor of Chicago, Illinois, Rahm Emanuel, has seen the future and knows that it is going to include blockchains and cryptocurrencies. During a recent meeting on FinTech held in his city, he asserted that crypto is here and that wide-scale adoption is “inevitable.” Given the strides made by the crypto ecosystem in the past two years, Emanuel’s words are spot on.

The politician admitted that he is not an expert on crypto technology, but sees the value of the currency as an alternative to fiat. He added that many countries, especially those that have financial instability, can find substantial relief from digital assets and that these could help in the countries’ economic recovery.

Emanuel added, “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.”

The chief of staff for former U.S. President Barack Obama knows enough about the technology to realize that the ecosystem continues to improve. He asserted during his speech, “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.”

Crypto has a lot of benefits, in spite of what some fiat cronies try to make others believe. Many individuals, even those from outside the crypto community, have come to the realization that there is real value in digital currencies and are joining the space. Alex Gladstein, a human rights advocate, has written frequently on the subject and recently said on Twitter, “My @Time column on why bitcoin matters for freedom. For billions living under authoritarianism, it can be an alternative money system and an escape from economic control. And for all of us, it preserves the peer-to-peer virtues of cash in an increasingly digital financial world.”