Though he has lauded the benefits of cryptocurrencies in the past, Bill Gates recently discussed their pitfalls, according to Fortune.
Mr. Gates, the world's second wealthiest man, answered questions Feb. 27 during an "Ask Me Anything" session on Reddit. Mr. Gates has previously expressed excitement about the cost-effective nature of cryptocurrency interactions, but when questioned about them during his latest AMA session, he was not as optimistic.
"The main feature of cryptocurrencies is their anonymity. I don't think this is a good thing," Mr. Gates said, according to Fortune. "The government's ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way."
The Bill and Melinda Gates Foundation partnered with cryptocurrency platform Ripple in October in an effort to create financial services infrastructures in developing countries.