2018-6-18 13:58 |
As previously reported, the release precedes the organization’s full annual economic report, which will be published next week.
In addition, the bank claims that using a blockchain to process the volume of retail payments made daily “could bring the internet to a halt.”
This massive communication volume is what would impact the internet, according to the report.
While the BIS was harsh on cryptocurrencies, it saw distributed ledgers more positively, writing that “the underlying technology may have promise in other fields.”
However, the report ultimately noted that research in other technologies to accomplish the same goals as a distributed ledger is ongoing, “and it is not clear which will emerge as the most efficient one.”
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