With the great crisis, comes unique measures, according to Mike Novogratz, who believes that the torrid time we are currently experiencing, calls for a cryptocurrency wallet of every individual to be linked with government. The community didn't fancy the idea, at least in the beginning.

The crypto community cherishes nothing more maybe than the decentralized nature of them, and so it was conspicuous that many of Mike Novogratz followers didn't buy the idea and weren't on board.  However, the Galaxy Digital CEO came up with further explaining and stated that he meant a wallet not controlled by the government but one in which governments can send money.
<blockquote class="twitter-tweet">
This crisis really highlights how important it is for everyone to have a digital wallet that is linked to both local,state, and the federal Govt. <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a>
— Michael Novogratz (@novogratz) <a href="https://twitter.com/novogratz/status/1248231066063843328?ref_src=twsrc%5Etfw">April 9, 2020</a></blockquote>
The current generation is currently under the influence of the greatest crisis we might witness in our lifetime. Efforts of the government to cut down the death rates by adopting measures such as social distancing are yet to help significantly. They are trying everything they can, to keep the economy from further crippling.

Mike Novogratz is of the view that a cryptocurrency wallet linked with the government could help significantly in times like these as it would aid in the distribution of funds to citizens.  While there are definitely benefits to it, the crypto industry response was a big NO!.
<h2>Mike Novogratz Claims Not Downright Ridiculous</h2>
Before Novogratz got the opportunity to clear up his ambiguous statement, the community was out in full flow and pretty vehemently denied anything which can attack the decentralized nature of cryptocurrency. Many showed disdain as they see that it will serve no purpose.

The case for cryptocurrency whether backed by the government or not is definitely strong.  It can make the distribution of payments, the stimulus package of the US government, rapid to those in dire need and are fighting to make ends meet.

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Mike Novogratz Suggests a Crypto-Wallet Linked With Government

Mike Novogratz has suggested that a crypto-wallet linked with government could help speed up the distribution of stimulus funds and help in these times.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Mike Novogratz Suggests a Crypto-Wallet Linked With Government

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