https://ift.tt/324r2jY Chess Grandmaster Gary Kasparov Calls Bitcoin Protection Against Government

Legendary chess player and Russian grandmaster Gary Kasparov is a purported champion of cryptocurrency, equating the technology to a form of economic and individual freedom. 

Kasparov, who held the No. 1 ranking in chess from 1984 to 2005, particpiated in a recent interview with CoinDesk to explain his views on cryptoassets, including as a means for citizens to check the power of government and protect against government spending.

Kasparov said he first became interested in cryptoassets through his background in technology and math, culminating in a partnership last December with 1Kind to develop non-fugnible tokens (NFTs) based upon iconic moments from his 1985 chess match against IBM’s “Deep Blue” artificial intelligence machine. 

Kasparov said crypto was becoming integral to the future of technology, including the evolution of economies around the world. 

He told CoinDesk, 

Cryptocurrencies become an inseparable part of or progress, because the whole world is moving digital. And if the economy becomes more digital, so does the money. Another philosophical reason is that … governments [have] unlimited opportunities to print money. And printing money is the most exquisite form of borrowing from us and from future generations.

The Russian grandmaster said that cryptoassets, particularly Bitcoin, offered protection against the “onslaught” of the government. He called their development “absolutely” vital for the future of the world. 

Kasparov argued that crypto held the ability to protect human rights in undemocratic countries while providing citizens in democracies with a way to combat government economic policies. He explained his frustration as an American taxpayer with the government printing trillions in new money, leading to the devaluation of his dollar. 

He concluded,

So I think it’s very important that technology would offer me an opportunity to fight back, to protect my hard-earned fortune. And I think that bitcoin – which I believe is online gold – and other cryptocurrencies are the way to the future. I’m not a financial expert, but I would not be surprised if, I would not be surprised if, in 10 years’ time, the dollar will be replaced by the basket of coins as a standard.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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