28 Jan '15, 9pm

Bill Gates: Digital currency can help the poor, but not bitcoin.

Bill Gates has high hopes for digital currency as an important banking tool for the poor. But Bitcoin isn't one of those currencies, he said in a Reddit AMA today . At least not in its current form. Gates extolled the value of digital currency in his AMA last year as well , explaining that since many poor people in developing countries don't have access to traditional banking, it's not financially worth it for banks to put branches in areas where the amounts stored and transferred are so small, leaving the poor at a huge disadvantage when it comes to exchanging, saving, and accessing money. Mobile banking costs almost nothing to process, so it actually is worthwhile for banks to provide the service. That means digital money offers an opportunity for mobile banking, and hence the Bill and Melinda Gates Foundation is so gung-ho about giving people more ways to store their mo...

Full article: http://gizmodo.com/bill-gates-digital-currency-can-help-t...

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