Cryptocurrency adoption is inevitable in the future, says Chicago’s Mayor Rahm Emanuel

At a recent FinTech meeting held in Chicago, the city’s Mayor, Rahm Emanuel, took center stage and claimed that the adoption of cryptocurrencies on a larger scale was inevitable.

Emanuel, who was President Obama’s Chief of Staff, conceded that he did not present the requisite knowledge required to completely understand the cryptocurrency ecosystem. He explained that nations facing financial instability like Iran and Venezuela, could find respite in crypto assets which can act as a lifeline for economic recovery.

He stated,

“One day, somebody’s going to figure out – whether that’s Argentina, ten years from now, five years from now – how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you’re going to find out that this moment has arrived.”

He added that he was encouraged and increasingly optimistic after observing blockchain’s “trend lines,” claiming that the crypto industry’s future was positive.

He stated,

“The trend lines are affirmative for its future. I don’t know if that’s ten years, and I don’t know if that’s 20 years, but it’s affirmative. I don’t know what it is. I know it’s an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it’s not the top 100 things I would have to learn about.”

Rahm Emanuel joined the likes of Jack Dorsey, Elon Musk and actress Gwyneth Paltrow in supporting the adoption of cryptocurrencies.

Emanuel’s statement at the FinTech event echoed the views presented by humans right advocate, Alex Gladstein. Gladstein had previous written Op-Eds and tweeted about how Bitcoin mattered in terms of financial freedom, and was an “escape from economic control.”