CFTC Commissioner, Rostin Behnam, has a positive outlook on the future use cases of virtual currencies, specifically in poverty, agriculture, and health care. In his speech, he said, “We are witnessing a technological revolution.  Perhaps we are witnessing a modern miracle.”

On June 4th, the commissioner of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, gave a speech at the BFI United Nations Summit. During this speech, he gave a positive outlook on cryptocurrency and the industry surrounding it. He believes that virtual currencies will not go away and “will proliferate to every economy and every part of the planet.”

“But virtual currencies may – will – become part of the economic practices of any country, anywhere.  Let me repeat that: these currencies are not going away and they will proliferate to every economy and every part of the planet.  Some places, small economies, may become dependent on virtual assets for survival. And, these currencies will be outside traditional monetary intermediaries, like government, banks, investors, ministries, or international organizations.”

He goes on to talk about how these virtual currencies can solve everyday problems in any country.

1. Poverty

The ability to bank the unbanked, some 4 billion people worldwide, could potentially join in the world economy with their cell phones, without having access to banks.

“I know some have argued that virtual assets could be a way to spread the wealth and end poverty.  They have argued blockchain could be the means for ending poverty…that such a possibility should drive the virtual debate…The old limits and parameters may crumble, with the dawn of new technology.”

2. Agriculture

Through blockchain use, food will arrive on shelves faster, transparency will exist as to what is in our food, and potentially eliminating food waste altogether.

“Food could arrive on grocery shelves faster, using an intricate system of measures meant to trace location from the farm to the table, with the additional bonus of providing abundantly more information about the product source…These are possibilities we cannot ignore.  I believe that farmers and consumers will greatly benefit from improvements in agriculture through Blockchain.”

3. Health Care

Blockchain technology will allow for more privacy, longevity and accuracy of records, medical waste and fraud transparency to lower health costs, and a creation of smart records which allows for better overall healthcare.

“Blockchain could allow patients to create smart records that gather and harmonize information, leading to better continuity of care and even new models of care.”

Rostin Behnam talks about regulation and how, according to the CFTC, since 2015 they have viewed Bitcoin as a commodity but they do not have regulatory jurisdiction over them. He even muddies the waters more by saying “In fact, current law does not provide any U.S. Federal regulator with such regulatory oversight authority over spot virtual currency platforms operating in the United States or abroad.” This speech did not give regulatory guidance to the space but to be fair, the CFTC has been the most transparent regulatory agency in the U.S.

Although the regulation talk did not get clarified, it is clear that the CFTC is very positive towards the future of this space and sees many different sectors that can be positively affected by this new technology.

“Blockchain is more than technology:  it is an advance that reaches out into every aspect of life.  We could use Blockchain to address the most basic, the most primal problems on our planet:  corruption, income distribution, poverty, food, and health care, and the fear billions of people experience every day as they try to survive. As a young child, I would come to this building in search of solutions to the problems of the world.  Now, today, we may have found one of those solutions – bigger, bolder, more comprehensive, and more effective than anything imagined before. And, as a regulator, I am pleased to be part of your discussion.” Said Rostin Behnam.

286 COMMENTS

  1. I¡¦ve been exploring for a little for any high-quality articles or weblog posts on this kind of area . Exploring in Yahoo I eventually stumbled upon this site. Studying this information So i¡¦m happy to exhibit that I’ve a very excellent uncanny feeling I discovered just what I needed. I most indisputably will make certain to don¡¦t put out of your mind this web site and give it a glance regularly.

    http://www.tsf70.com/wiki/doku.php?id=How_To_Select_The_Most_Effective_Relocating_Services

  2. I truly wanted to post a brief comment to be able to thank you for some of the lovely pointers you are sharing at this site. My incredibly long internet search has at the end of the day been honored with excellent facts and techniques to share with my good friends. I ‘d express that most of us site visitors are really lucky to exist in a wonderful site with so many special people with insightful tips and hints. I feel rather blessed to have come across your site and look forward to so many more entertaining moments reading here. Thanks a lot once more for all the details.

    https:/discover.societymusictheory.org/story.php?title=fensterputzer-hamburg-altona

  3. Thank you so much for giving everyone an extraordinarily special opportunity to read critical reviews from this site. It’s always very enjoyable and jam-packed with amusement for me and my office colleagues to search your web site a minimum of thrice in a week to see the newest tips you have. And definitely, we are at all times amazed with all the wonderful tactics you give. Selected 1 areas in this post are particularly the finest we have all had.

    http://prayexpectantly.com/origintrail/index.php?title=The_Benefits_Of_Making_Use_Of_Industrial_Cleansing_Services

  4. I want to express my appreciation to the writer just for bailing me out of this type of setting. After looking through the world wide web and getting views that were not beneficial, I assumed my entire life was well over. Existing without the presence of solutions to the difficulties you have solved all through your entire write-up is a crucial case, and ones that might have negatively damaged my entire career if I hadn’t come across your blog. Your own personal mastery and kindness in dealing with all areas was tremendous. I don’t know what I would’ve done if I had not discovered such a step like this. I can now look forward to my future. Thanks for your time very much for this reliable and results-oriented help. I will not hesitate to refer your web site to anyone who requires assistance about this issue.

    http://www.tsf70.com/wiki/doku.php?id=Online_Hotelsuggest_various_services_Reservations__Taking_Advantage_Of_Comparison_Customers

  5. I want to express my appreciation to the writer just for bailing me out of this type of setting. After looking through the world wide web and getting views that were not beneficial, I assumed my entire life was well over. Existing without the presence of solutions to the difficulties you have solved all through your entire write-up is a crucial case, and ones that might have negatively damaged my entire career if I hadn’t come across your blog. Your own personal mastery and kindness in dealing with all areas was tremendous. I don’t know what I would’ve done if I had not discovered such a step like this. I can now look forward to my future. Thanks for your time very much for this reliable and results-oriented help. I will not hesitate to refer your web site to anyone who requires assistance about this issue.

    http://www.tsf70.com/wiki/doku.php?id=Break_Outselling_stores_or_probably_Xbox_Live_Gold_Membership_And_Also_Save_Cash

  6. Good ¡V I should certainly pronounce, impressed with your website. I had no trouble navigating through all the tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your customer to communicate. Excellent task..

    https://fortknox.physik3.gwdg.de/wiki_cart/index.php?title=Windows_Os_Assistance_To_Manage_Troubles_Like_Slow_Running_Equipments

  7. I intended to send you a very small observation to say thanks the moment again on the awesome thoughts you’ve featured in this article. It has been so shockingly generous with you to provide publicly what many individuals would’ve sold for an electronic book to end up making some bucks for themselves, particularly considering the fact that you could have tried it if you ever desired. The thoughts likewise served to become a fantastic way to know that other people have the identical zeal the same as mine to see a good deal more when considering this condition. I’m certain there are millions of more pleasant times in the future for individuals that read through your website.

    http://www.da30.highdabookmarking.com/story.php?title=why-not-check-here

  8. I¡¦ve been exploring for a little for any high-quality articles or weblog posts on this kind of area . Exploring in Yahoo I eventually stumbled upon this site. Studying this information So i¡¦m happy to exhibit that I’ve a very excellent uncanny feeling I discovered just what I needed. I most indisputably will make certain to don¡¦t put out of your mind this web site and give it a glance regularly.

    https://crema-sota-wiki.dfki.de/index.php?title=The_Quick_As_Well_As_Reliable_Advice_For_Choosing_A_Digital_Advertising_And_Marketing_Company

  9. I truly wanted to post a brief comment to be able to thank you for some of the lovely pointers you are sharing at this site. My incredibly long internet search has at the end of the day been honored with excellent facts and techniques to share with my good friends. I ‘d express that most of us site visitors are really lucky to exist in a wonderful site with so many special people with insightful tips and hints. I feel rather blessed to have come across your site and look forward to so many more entertaining moments reading here. Thanks a lot once more for all the details.

    http://fasters-seo.com/story.php?title=reitjacken

  10. I want to express my appreciation to the writer just for bailing me out of this type of setting. After looking through the world wide web and getting views that were not beneficial, I assumed my entire life was well over. Existing without the presence of solutions to the difficulties you have solved all through your entire write-up is a crucial case, and ones that might have negatively damaged my entire career if I hadn’t come across your blog. Your own personal mastery and kindness in dealing with all areas was tremendous. I don’t know what I would’ve done if I had not discovered such a step like this. I can now look forward to my future. Thanks for your time very much for this reliable and results-oriented help. I will not hesitate to refer your web site to anyone who requires assistance about this issue.

    http://www.bookmarkmest.win//story.php?title=hundezwinger-mobil-2

  11. What i do not understood is actually how you are not really a lot more well-favored than you may be right now. You are so intelligent. You recognize therefore considerably on the subject of this matter, produced me in my opinion believe it from so many various angles. Its like men and women are not involved until it is one thing to do with Girl gaga! Your own stuffs excellent. At all times maintain it up!

    https://makerfabs.com/wiki/index.php?title=STEPS_TOtask_of_technology_not_just_SAFEGUARD_YOUR_WIRELESS_LAN

  12. Wonderful story, reckoned we could combine a couple of unrelated data, nevertheless really really worth taking a search, whoa did one discover about Mid East has got a lot more problerms as well.

  13. I am just writing to make you be aware of what a superb encounter my friend’s princess found reading your site. She picked up such a lot of details, most notably what it’s like to possess an incredible coaching nature to make other people just grasp chosen specialized matters. You really did more than my expected results. Thanks for delivering those good, safe, edifying and even easy guidance on the topic to Lizeth.

    http://www.wikimedialevant.org/index.php?title=Ten_FinestVarious_Type_Of_Bad_Credit_Rating_Installment_Loans

  14. I want to express my appreciation to the writer just for bailing me out of this type of setting. After looking through the world wide web and getting views that were not beneficial, I assumed my entire life was well over. Existing without the presence of solutions to the difficulties you have solved all through your entire write-up is a crucial case, and ones that might have negatively damaged my entire career if I hadn’t come across your blog. Your own personal mastery and kindness in dealing with all areas was tremendous. I don’t know what I would’ve done if I had not discovered such a step like this. I can now look forward to my future. Thanks for your time very much for this reliable and results-oriented help. I will not hesitate to refer your web site to anyone who requires assistance about this issue.

    http://www.wikimedialevant.org/index.php?title=Ways_toStrategy_every_little_thing_initially_Select_The_Best_Hotel

  15. Thank you so much for giving everyone an extraordinarily special opportunity to read critical reviews from this site. It’s always very enjoyable and jam-packed with amusement for me and my office colleagues to search your web site a minimum of thrice in a week to see the newest tips you have. And definitely, we are at all times amazed with all the wonderful tactics you give. Selected 1 areas in this post are particularly the finest we have all had.

    http://caelt3.harrisburgu.edu/studiowiki/index.php?title=A_Technological_Revolution_Throughoutfrequent_demand_of_adjusting_Smart_Tv

  16. I am just writing to make you be aware of what a superb encounter my friend’s princess found reading your site. She picked up such a lot of details, most notably what it’s like to possess an incredible coaching nature to make other people just grasp chosen specialized matters. You really did more than my expected results. Thanks for delivering those good, safe, edifying and even easy guidance on the topic to Lizeth.

    http://clic-pral.web.cern.ch/clic-pral/doku/doku.php?id=Television_seeking_and_decidingSelections_And_Type_S_For_Household_Theaters

  17. I am just writing to make you be aware of what a superb encounter my friend’s princess found reading your site. She picked up such a lot of details, most notably what it’s like to possess an incredible coaching nature to make other people just grasp chosen specialized matters. You really did more than my expected results. Thanks for delivering those good, safe, edifying and even easy guidance on the topic to Lizeth.

    http://courses.jamesmpoe.com/robotics/index.php?title=Purchasingbuying_clothes_and_specially_Clothing_On_The_Web_

  18. Thank you for sharing excellent informations. Your web-site is so cool. I’m impressed by the details that you have on this blog. It reveals how nicely you perceive this subject. Bookmarked this website page, will come back for more articles. You, my pal, ROCK! I found simply the information I already searched everywhere and simply could not come across. What a great site.

    http://myseoline.ga/story.php?title=source-website

  19. What i do not understood is actually how you are not really a lot more well-favored than you may be right now. You are so intelligent. You recognize therefore considerably on the subject of this matter, produced me in my opinion believe it from so many various angles. Its like men and women are not involved until it is one thing to do with Girl gaga! Your own stuffs excellent. At all times maintain it up!

    http://www.tsf70.com/wiki/doku.php?id=Economy_Car_Leasingmind_while_you_rent_a_car_Services_Offer_The_Very_Best_Of_Both_Worlds

  20. Undeniably believe that which you said. Your favorite justification appeared to be on the net the easiest thing to be aware of. I say to you, I definitely get annoyed while people consider worries that they just don’t know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people could take a signal. Will probably be back to get more. Thanks

    http://bookmarkbook.org/story.php?title=browse-around-here-7

  21. Wonderful story, reckoned we could combine some unrelated data, nonetheless actually really worth taking a appear, whoa did a single master about Mid East has got much more problerms as well

  22. Wonderful story, reckoned we could combine a number of unrelated information, nonetheless really really worth taking a look, whoa did a single understand about Mid East has got additional problerms also

  23. I am just writing to make you be aware of what a superb encounter my friend’s princess found reading your site. She picked up such a lot of details, most notably what it’s like to possess an incredible coaching nature to make other people just grasp chosen specialized matters. You really did more than my expected results. Thanks for delivering those good, safe, edifying and even easy guidance on the topic to Lizeth.

    http://www.naxcivanpoct.az/?option=com_k2&view=itemlist&task=user&id=98384

  24. Undeniably believe that which you said. Your favorite justification appeared to be on the net the easiest thing to be aware of. I say to you, I definitely get annoyed while people consider worries that they just don’t know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people could take a signal. Will probably be back to get more. Thanks

    http://www.socialbookmarkings.co.uk/story.php?title=helpful-resources-27

  25. Undeniably believe that which you said. Your favorite justification appeared to be on the net the easiest thing to be aware of. I say to you, I definitely get annoyed while people consider worries that they just don’t know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people could take a signal. Will probably be back to get more. Thanks

    http://www.backsitelinks.xyz/story.php?title=text-banner-vector

  26. Good ¡V I should certainly pronounce, impressed with your website. I had no trouble navigating through all the tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your customer to communicate. Excellent task..

    http://www.seoway.16mb.com/story.php?title=mobile-windshield-repair-service

  27. I have to get across my admiration for your generosity supporting persons who really want assistance with the area. Your very own dedication to getting the message all over has been extraordinarily functional and has in every case enabled ladies like me to reach their endeavors. Your new helpful publication signifies a great deal to me and far more to my colleagues. With thanks; from each one of us.

    http://wangzhuan.dedecmser.com/home.php?mod=space&uid=283629&do=profile

  28. Good ¡V I should certainly pronounce, impressed with your website. I had no trouble navigating through all the tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your customer to communicate. Excellent task..

    http://isarflossfahrten.com/story.php?title=have-a-peek-at-this-web-site

  29. I simply wanted to say thanks again. I’m not certain the things I would’ve carried out in the absence of these points provided by you regarding such field. It was before a real daunting difficulty in my view, nevertheless considering the very skilled style you treated the issue took me to jump with fulfillment. Extremely grateful for the advice and then expect you comprehend what a great job that you’re putting in training the rest all through your site. Most likely you’ve never met all of us.

    http://independencescience.co/electronics/relevant-web-site-5/

  30. I have to get across my admiration for your generosity supporting persons who really want assistance with the area. Your very own dedication to getting the message all over has been extraordinarily functional and has in every case enabled ladies like me to reach their endeavors. Your new helpful publication signifies a great deal to me and far more to my colleagues. With thanks; from each one of us.

    http://life-hub.com/index.php?title=Surety_Bonds_Duties_And_AlsoAssurance_Bonding_Building_And_Construction_Responsibility

  31. Wonderful story, reckoned we could combine a handful of unrelated data, nonetheless really worth taking a look, whoa did a single understand about Mid East has got much more problerms at the same time

  32. PHP SEO: Search Engine Optimization
    php seo uzmanı olarak şirketimiz php seo hizmeti vermektedir günümüz ortamında site sahiplerinin php bilgisi nekadar iyi olsada php seo metotları arama motorlarında optimize edilmesi gereken hususlardan bir tanesi web siteniz nekadar iyi olsada arama motorlarına duyarlı olmasına özen gösterin. php seo uzmanlarımızdan destek alabilirsiniz.

  33. ankara deha nakliyat firmansı. ankara evden eve nakliyat ev ofis taşımacılığı, şehiriçi şehirler arası nakliyat, eşya depolana hizmetlerini kusursuz olarak uzman kadromuzla 7/24 hizmetimizdeyiz ankara deha nakliyat firması…

  34. we prefer to honor several other world-wide-web web-sites on the net, even though they arent linked to us, by linking to them. Beneath are some webpages really worth checking out

  35. we like to honor lots of other internet sites around the web, even when they arent linked to us, by linking to them. Underneath are some webpages worth checking out

  36. Antalya havaalanı transfer, alanında hizmet veren Antalya Transfer CLK Firması transfer servis araçlarıyla konforlu ve güvenli yolculuğu hesaplı fiyat politikasıyla beraber müşterilerine en iyi şekilde sunmaktadır.

    Araç filomuza kattığımız hem VIP hemde STANDART servis araçlarımızla misafirlerimizi Antalya havalimanından alarak istedikleriyle lokasyona transferlerinde hizmetinizdeyiz. Antalya havalimanı transferinde saat ve zaman önemli olduğu için misafirlerimiz asla beklemezler ve randevularına geç kalmazlar.
    Antalya Transfer CLK Firması olarak mutlu tatiller dileriz

  37. although websites we backlink to beneath are considerably not associated to ours, we feel they’re actually really worth a go by way of, so have a look

  38. “It’s really a great and helpful piece of information. I am glad that you shared this helpful info with us. Please keep us informed like this. Thanks for sharing.”

    eco-friendly-toys.blogspot.com

  39. Perfect! Interesting tips over this web. It’s pretty worth enough for me. Personally, if all web owners and bloggers made good content as you did, the net will be much more useful than ever before.| I couldn’t resist commenting. I have spent 3 hours looking for such tips. I will also share it with a couple of friends interested in it. I’ve just bookmarked this website. Right now with the task done, I will watch some live gay Cams. Danke!! Greetings from Berlin!

    virtual-cams.webnode.cat

  40. I like it! Interesting article over this web. It is pretty worth enough for me. In my opinion, if all webmasters and bloggers made good content as you did, the web will be much more useful than ever before. I couldn’t refrain from commenting. I’ve spent some hours searching for such infos. I’ll also share it with some friends interested in it. I’ve just bookmarked this web. Right now with the search done, I’ll enjoy some model sexy cams. Thanks!! Greetings from San Francisco!

    virtual-cams.webnode.cat

  41. Good info! Interesting tips over this website. It’s pretty worth enough for me. In my view, if all webmasters and bloggers made good content as you did, the internet will be a lot more useful than ever before. I couldn’t refrain from commenting. I have spent 3 hours looking for such infos. I’ll also share it with a couple of friends interested in it. I’ve just bookmarked this website. Now with the job done, I’ll find some online gay cams. Thank you!! Greetings from Los Angeles!

    virtual-cams.webnode.cat

LEAVE A REPLY

Please enter your comment!
Please enter your name here