FBI Consultant Guarantees Every Bank Will Adopt Blockcha
Master forger and the real-life character of the popular movie “Catch Me If You Can,”, Frank Abagnale, recently expressed at the Blockchain Nation Miami Conference that he believes blockchain technology is the future of secure information processing and data settlement.
- “I think you would have to be pretty ignorant not to realize that blockchain is the way for the future, it is the best way to secure information 100 percent, so I think you will see banks, especially accounting practices and accounting firms, all move to the blockchain, keeping records through blockchain. It will be the best way to do so because you cannot break the blockchain, you cannot hack into the blockchain, you can’t change anything in the blockchain.”
Despite the fact that Abagnale has worked as a security consultant in the later stages of his career, between the ages 15 and 21 years old, he was became popular for being a master forger, creating fake checks and stealing large sums of money.
Abagnale finished by saying:
- “One would have to be incredibly foolish not to see that [blockchain] is an incredible technology and that will be eventually adopted by all types of governments, businesses, and corporations. A cyber currency [cryptocurrency], just like anything else, it will take time to get people to understand how it works and I tell people all the time, and they say “is it safe?” I say every financial transaction has a risk. The only financial transaction in the world that exists that has no risk is a credit card because federal law takes total liability away from you.”
Like Abagnale said, cryptocurrencies like Bitcoin and Ethereum are still in early stages of development and adoption. It could take more than a decade for these technologies to be adopted.