PayPal Co-Founder, Peter Thiel, Believes Cryptocurrency Plays A Role In The Decentralization Of The World

The co-founder of Paypal and one of the leading investors in Facebook, Peter Thiel, believes that cryptocurrency can play a fundamental role in the decentralization of the world. During his speech at the international seminar called the 5th Forum on Freedom and Democracy, which took place last Monday at the Unique Hotel in Sao Paulo, Brazil, the American businessman explained that it is necessary to direct efforts to reduce governmental control over the Internet.

PayPal co-founder Peter Thiel’s speech focused on the crucial issue of decentralization in different areas of today’s society

“We need to focus more on decentralization to make the world less centralized,” he said. In his opinion, cryptos will contribute significantly to achieving this objective, since one of the main characteristics of these assets is that they are not controlled or regulated by any particular authority.

According to the entrepreneur, in the late 1990s, he was attracted to financial cryptography. However, he assured that he did not risk creating a system like Bitcoin (BTC) “because he would never be able to do anything like that.”

It is worth remembering that Peter Thiel has been one of the leading figures who has publicly expressed his optimism about the future of Bitcoin (BTC) and its technology.

Atlas Quantum and Foxbit, which both faced security issues in the past, sponsored the cryptocurrency summit in Brazil

The international seminar where Peter Thiel, co-founder of PayPal, made the comments, was organized by the Leadership Training Institute of Sao Paulo and Radio Jovem Pan, in Brazil. Among its sponsors, there is Atlas Quantum, a Brazilian company that offers investment services in cryptocurrency, which on August 25th discovered a security problem on its platform. On that occasion, the personal data of 264,000 customers was compromised.

On the other hand, Foxbit, a cryptocurrency exchange platform based in Brazil and also a sponsor of the before-mentioned forum, was the victim of a security failure that caused the loss of 30 BTC during the month of March.

Jackson Bey

Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

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