Kasparov, in an interview with Forbes contributor Roger Huang, stated that he is seeing many positives in cryptocurrencies. As per him, cryptos provide greater authority than fiat money to individuals as the latter is generally regulated “either by the state, corporations or outside parties.”
“The good thing about Bitcoin is that you know exactly the number — the magic number of 21 million,” the chessmaster said, referring to the maximum number of Bitcoin (BTC) tokens that will ever be mined. “But when you look at the other side, the Fed for instance, you never know how many trillions of dollars will appear on the market tomorrow that will damage your savings.”
Kasparov, notably, is a chair of the Human Rights Foundation, which utilizes technology and digital advancement to safeguard the freedoms of those who are vulnerable. As per him, blockchain technology and cryptos such as Bitcoin are “natural choices” for safeguard against breach of privacy and abuse of human rights.
“I think the steady rise in popularity of Bitcoin and other cryptocurrencies and blockchain technology as a concept is inevitable, because it’s a response to the shift of power from individuals to states or other institutions that may act on our privacy without our consent.”
Last month, a chess match between Algorand founder Silivio Micali and grandmaster Sergey Karjakin was filed on blockchain.
Similar to Kasparov, Kajakin stated that he is intrigued by cryptos and the core technology. Algorand, a PoS (proof of stake) blockchain platform, is suited for further adoption in chess game, as per Micali.