The former White House advisor and conservative firebrand Steve Bannon believes that cryptocurrency is ‘disruptive populism’.
Bannon had recently been an advisor to US President Donald Trump’s campaign until he was ousted after some disparaging remarks made in a book describing the president’s son and other individuals. But now he works in the field of the cryptocurrency movement.
Bitcoin at ‘good stake’
The destructive nature of the cryptocurrency to other banking system corresponds in the same way as his beliefs which accelerates his excitement on the cryptocurrency’s potential.
“It’s disruptive populism. It takes control back from central authorities. It’s revolutionary. It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency,” Bannon said in an interview with New York Times.
Last year, Bannon met with other crypto enthusiasts where he also explained he has been at ‘good stake’in Bitcoin ever since as he plans to launch other cryptocurrencies around the globe.
Bannon talked of forming another virtual currency which will be called as “deplorables coin” that will be based on what Hillary Clinton describes the supporters of Trump at the time of the presidential campaign. But Bannon keeps a subtle profile by working using ICOs in order to not catch any attention from media companies.
Most media sources are using Bannon’s knowledge for cryptocurrency to push through with the usual FUD once again. They used remarks on how right extremists and nationalist groups have begun to embrace the idea of cryptocurrency together with other criminal affiliations.
“Neo-Nazis, identitarians, and jihadists aren’t short of incentives to invest. They share the anti-establishment sentiment with the libertarians, the desire to make quick money with the speculators, and the need to find alternative transaction routes with the criminals,” said Julia Ebner, a researcher for Strategic Dialogue.
Cryptocurrency is not good or bad in itself, in the same manner as any other tool and that it solely depends on the way individuals use it. But it allows people to have a better control of their destinies in the economy given the allowance made by centralized institutions for finance and politics.
Agreeing or not to the beliefs of Steve Bannon, the reality of Bitcoin and other cryptocurrencies goes to show that they are true examples of ‘disruptive populism’ which many people find it as not bad at all.