In an interview, at the Chainxchange Blockchain convention at the start of the month, Lilia Infante, an agent of United States Department of Justice made some interesting revelations on the topic of the need of cybernetic currencies. Ms. Infante was a driving force behind the first investigating task of the US DOJ which focused on the role of digital currency or bitcoin in criminal activities.
Although Infante is highly cynical of the growing importance of cryptocurrencies and their implementation in areas of trade and commerce in the western world, she expressed her soft corner for the need of bitcoin in uplifting the Venezuelan depreciated economy because of increasing inflation.
Having a criminal investigation background and being a unique mediator for the US Department of Justice, Infante in the interview shows her concern for the increasing bitcoin transactions in the western world. She believes that the bitcoin is the crux of all the criminal activities such as system crash down, hacking, foul play and fraudulence that holds millions of investments at stake. Her earlier experience in working with the investigation bureau of the DOJ that focuses on the use of digital currencies in criminal inquiries made her cite her opinion with sheer cynicism regarding bitcoin in the western world.
Mrs. Infante claims that confidentiality and immutability give bitcoin a unique standing among the currencies. However, these two aspects are callously ignored when carrying out transactions in virtual currency. Therefore, she believes and expresses that an average US citizen is perfectly contented with other forms of payment transfers such as Venmo, Paypal or their respective bank accounts because they are more reliable and are always present to restore any pending in transactions.
Mrs. Infante believes that it is imperative to buy bitcoin in an economy that is severely affected by inflation and that such purchase should be encouraged on a public level. In contrast, a US citizen is not well motivated to buy bitcoin because there are other technological methods of money transfers and transactions. They need not learn the new technology of virtual currency.
Mrs. Infante firmly speaks to the bitcoin community in the western world that if they want the crypto technology to thrive, they need to cooperate with the government. If they do not, then it’s their loss because the government has a stay in the country for a long time. It’s better not to meddle with the governing authority of the country, and to maintain the prosperity of their respective business; the owners need to subject their crypto transaction policies under governmental regulations.