Investment Management
Central Bank Cryptocurrencies Could Substantially Reduce Fraud _ pivision
“Say there’s a grant to Nigeria for health stuff—if it’s digital money, they can track that it was paid to a certain person and when it was paid out. Then you can audit later and say, ‘Did that really happen?’ You don’t want to tell donors that three percent went astray. Now that there’s digital traceability in a place like Nigeria, where corruption is a huge problem, we can bring that down. A lot of the optimism we have at the foundation about disease, education and financial services is because we’re sitting on top of a digital miracle.”
— Bill Gates, September 25, 2017
24 Source: Investment Strategy Group, “Brain Trust: A Rare Joint Interview with Microsoft CEO Satya Nadella and Bill Gates,” The Wall Street Journal, September 25, 2017. HOUSE_OVERSIGHT_025687