Edward Snowden Cautions Crypto Industry Not To Dilute Principles: 'We Should Defy Bureaucracy'

In a speech at Token2049, Edward Snowden, the former NSA contractor turned whistleblower, addressed the evolving landscape of digital privacy, government control and the role of cryptocurrency in shaping a new world order.

What Happened: Pointing on how government is exerting control over digital platforms, Snowden cited the recent case of Telegram’s founder Pavel Durov. He stated, "We saw a well-coordinated effort by the old powers to gain control over Telegram by taking its founder Durov as frankly a hostage in France."

The whistleblower emphasized the importance of designing systems that resist state interference, praising Bitcoin BTC/USD and other cryptocurrencies for their approach. He argued, “You have to design your app so that there will never be a head that the state can point a gun at, or they will do it."

Snowden expressed concern about the increasing attempts by governments to control digital communication, mentioning the European Union's chat control proposal. He warned, “They're laying the procedural framework for the global control the voices of every volume and that’s what it’s really about.”

Also Read: Former Coinbase CTO Balaji Srinivasan Says Bitcoin Is About Stopping The State From Slowly Draining Your Wealth

Why It Matters: Addressing the crypto community, Snowden urged a focus on the core values of cryptocurrency, stating, "We need to talk about the ruling values of the system the crypto part of cryptocurrency that’s what makes it special." He cautioned against diluting these principles to appease institutional investors.

Snowden also touched on the potential dangers of emerging technologies, including AI and consumer electronics. He stressed the importance of decentralization and privacy in these areas.

Snowden called for a return to the foundational principles of cryptocurrency, stating, "We should defy bureaucracy, we should reject modernity. Embrace tradition and you’ll save the world."

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: 

• Bitwise CIO Matt Hougan: ‘The Most Powerful People In Finance Are Allocating To Crypto’

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