In his recent interview with Forbes, chess grandmaster Garry Kasparov unexpectedly spoke as a supporter of bitcoin in particular and blockchain technology as a whole. Notably, he called cryptocurrencies “the natural choice” of people in an effort to protect their right for privacy which is brutally breached in the modern world.
The ex-world chess champion believes that bitcoin and other digital currencies enable investors to bar control of governments and large corporations over their private finances. In fact, monetary authorities are striving to rule over money supplies worldwide. "People are looking for alternative means of protecting their wealth and saving their fortune against inflation or uncontrolled state interference with their financial affairs," he pinpoints the reasons for popularity of cryptocurrencies.
"The good thing about Bitcoin is that you know exactly the number—the magic number of 21 million," Kasparov said. Leading central banks like the Federal Reserve and the ECB could turn on the printing press anytime and inject an infinite volume of cash that will erode people’s savings slowly but surely, so that they can do nothing about it. "… when you look at the other side, the Fed, for instance, you never know how many trillions of dollars will appear on the market tomorrow that will damage your savings."
The outstanding Russian chess player is the Chairman of the Human Rights Foundation that widely employs cutting-edge technologies to protect democratic liberties. Garry Kasparov is confident about bright prospects of bitcoin. "Anything that can offer us the opportunity to take back control or some control of our privacy is always welcome,” he is sure. "That's why I think the steady rise in popularity of Bitcoin and other cryptocurrencies and blockchain technology as a concept is inevitable," he added. From his viewpoint, bitcoin ensures financial autonomy.
Interestingly, Garry Kasparov has not always been a crypto fan. Three years ago, he used to label the number one cryptocurrency as fake money issued by a government’s directive to disrupt the domestic economy. In the course of time, the grandmaster and human rights advocate has revised his attitude towards virtual currencies. He treats them as pure mathematics being a decent alternative to fiat money.
