Russian cybersecurity expert Eugene Kaspersky has said cryptocurrencies can be a success, but only if governments stop trying to control them or alternatively when all countries unite under a single global government. However, the billionaire does not believe Bitcoin will replace the existing financial system despite the currency’s “great” qualities.

Also read: Startup Company Sets Up Bitcoin ATM in Botswana

‘Government of the Earth’

Speaking to the Dubai-based magazine Arabian Business, Kaspersky opined that cryptocurrencies are ahead of their time. “Cryptocurrencies are a great idea, but the world is not ready for them yet,” said Kaspersky, chief executive officer of IT security company Kaspersky Labs.

Kaspersky: Bitcoin Needs Less Government Control and More Collaboration

“The world must be united if we want to have encrypted currencies. At the moment, governments will want to control them. I believe that in the future, perhaps in 100 years’ time, all the world’s governments will be one government. States will unite under the [global government] and only…

Click to continue reading on its source location…