During her interview with Bloomberg Policies, former US Secretary of State, Hillary Clinton talked about the crypto industry and how in her opinion, the advancement of technology treats nations' stability.
Talking about technology, the politician said one of the areas that nation-states got to pay greater attention to is the rise of asymmetric power centers. According to her, there are increasing challenges that tech development causes. Clinton mentioned the cyber risks including disinformation and the rise of Artificial Intelligence, saying it threatens nation-states as well as multination corporations.
Next, Clinton said another area that nations need to pay greater attention to is the rise of cryptocurrencies.Although it may look interesting and exciting to mine new currencies, crypto has the potential to undermine other currencies and weaken the role of the dollar as a reserve currency.
Non-state actors present greater and greater threats, according to the democratic party representative. Commenting on China's preventing the crypto industry, Clinton said, the reason is probably that given to their nationalism, China recognized earlier than other states that outside technology payments systems are a threat to sovereignty.
Clinton said due to their ability to form a completely new layer, crypto can be extremely destabilizing and dangerous for global currency markets.