Chief Executive Officer (CEO) of Twitter, Jack Dorsey, predicted that bitcoin will replace all world currencies in the next 10 years. However, a candidate for Governor of the U.S. Central Bank San Francisco, John Williams, do not agree with the predictions of Jack Dorsey.
In his speech, John Williams explains that bitcoin can never replace paper money. Like many people who questioned the usefulness of bitcoin, William said that the digital currency fluctuating making it difficult to pay the right price for a certain item.
Even so, a lot of entrepreneurs who want in order for bitcoin to be legal tender.
Meanwhile, Jack Dorsey explains that bitcoin will be used as a currency in the future.
"The world will eventually have only one currency, the internet will also have one currency. I personally believe that the currency is bitcoin," he said.
Meanwhile, a lot of criticism and debate over whether the digital currency will be able and easy to set up as well as used as currency. Trading commission Commodity Future (CFTC) considers that bitcoin is a commodity today.