US Commodities Futures Trading Commission (CTFC) officials stated that the cryptocurrency will not disappear and will spread to every corner of the world.
Rostin Benham, a member of the US Commodity Futures Trading Commission, at the Blockchain for Impact Global Summit, said that blockchain technology can play a significant role in issues such as healthcare, employment, and crime management.
Rostain Benham called the cryptocurrency the "technological revolution," and he said:
“The virtual currency may become part of any country’s economic practice. Let me reiterate that the cryptocurrencies will not disappear. They will spread to every economy and expand to every corner of the globe. Virtual currencies may change the economy and social environment."
However, Rosten Bernam warned that if the cryptocurrency cannot be properly regulated, there will be a bad side. He said:
"Block chain can suppress totalitarianism, but if we do not consider it well, then there will be greater problems of corruption, crime, and division in the transition process."
In fact, this is not Rosanna Bernam's first expression of caution about the potential applications of blockchain technology. At the FIA Legal Compliance Conference last month, he expressed his concern about the cryptocurrency threat to financial stability. However, Rosten Bernam believes that blockchain technology can reshape economic, social and political relations.