Bill Gates Says Digital Currencies Could Be Huge

Bill Gates is hosting an AMA on Reddit right now.

Redditors have asked questions about everything from his new role at Microsoft to what his most expensive guilty pleasure purchase was (for the record: his private plane). One user asked him what his thoughts were about cryptocurrencies like Bitcoin. Here’s how Gates replied:

The foundation is involved in digital money but unlike Bitcoin it would not be anonymous digital money.

In Kenya M-pesa is being used for almost half of all transactions. Digital money has low transaction costs which is great for the poor because they need to do financial transactions with small amounts of money.

Over the next 5 years I think digital money will catch on in India and parts of Africa and help the poorest a lot.

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