Stafford Masie, the ex CEO of Google and now the General Manager of WeWork South Africa has expressed his support for Bitcoin and called it a tech innovation and gift that will change the future of humanity more than anything else.
In a keynote speech at the SingularityU South Africa Summit on October 16, Masie supported bitcoin’s way of exchanging value with no intermediaries involved. He insisted that the decentralized cryptocurrency is “misunderstood, misused, misrepresented and viewed as complicated”. He also added that the main potential of cryptocurrencies is not for highly digitized economies or even cash-dominated informal economies but another new facet aka third economies with barter systems involved.
He also tried to address misconceptions regarding Bitcoin including hacking and inaccessibility of funds. He stressed upon the fact that its the exchanges that are being hacked not the Bitcoin network itself.
Masie’s company WeWork experienced amazing growth and once planned to launch a massive USD 47 billion Initial Coin Offering (ICO) earlier this year but it could not go through as planned because of issues with its working model.
While the company’s woes have continued, Masie is confident about the overall industry and its future growth and disruptive power.
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