For four years, Alec Ross served as Senior Advisor for Innovation to the Secretary of State, a role created for him by Hillary Clinton to maximize the potential of technology and innovation in service of America’s diplomatic goals and stewarding the Secretary of State’s 21st Century Statecraft agenda. In this role, Ross advanced the State Department’s interests on a range of issues from Internet Freedom to disaster response to responding to regional conflicts. Previously, Ross served as Convener for the Technology, Media & Telecommunications Policy Committee on Barack Obama’s 2008 presidential campaign and served on the Obama-Biden Presidential Transition Team.
1) Why is BitCoin so popular? Why would anyone use a payment network based on an imaginary currency?
BitCoin is popular in part because people want to be able to bypass the middleman. That middleman could be a government regulator. It could be a financial services company that is charging 2% per transaction. What BitCoin allows is payment without the middleman.
2) Can the use or popularity of BitCoin cause economic problems? Or could BitCoins ever replace conventional money?
3) Your advice to ecommerce companies: Should they accept BitCoins? Why or why not?
4) There is a debate regarding Bitcoins anonymity. Some say it is a strength, while others say it is a weakness. Where do you weigh in?
5) What about cyber security issues? Should we be worried about Bitcoin being hacked?
6) Should our government be worried about BitCoin? What about it would be worrisome and why/why not?