By our reporter
On Wednesday while speaking at the ongoing Africa Blockchain Conference at Serena Hotel Kampala, President Yoweri Museveni described 69 year old Governor Bank of Uganda Prof. Emmanuel Mutebile’s hard line views on cryptocurrencies as ‘old fashioned’ and ‘dogmatic’.
In his speech, Mutebile said whereas blockchain technology is a revolutionary technology which has the potential to change the way people manage data as well as do business, he warned about the emergency of cryptocurrency as a result of such emerging technologies which he says lacks prerequisites to work as a currency.
“People who sell cryptocurrency risk being banned completely when the bubble bursts. Therefore the emergence of cryptocurrency doesn’t render Bank of Uganda useless,” he warned.
In response President Museveni told Mutebile that the current currency he is trying to defend didn’t exist years ago and only came into existence as a result of evolution of money thus encouraging him to approach the new trend with a much open mind.
“I encourage the governor to be more inquisitive about blockchain technology and not to be dogmatic. I also thank him for reminding me of my 1961 economics,” said Museveni.