BIS General Manager: Cryptocurrencies are Bubble

2018-7-5 20:10

Blockchain may have useful applications in other sectors but making money is not one of them, according to the Bank of International Settlement General manager Agustín Carstens.

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The head of the Bank for International Settlements (BIS) continued the institution’s critical stance on cryptocurrency, saying it “cannot assume the functions of money,” BIS reports July 4.

The head of the Bank for International Settlements (BIS) continued the institution’s critical stance on cryptocurrency, saying it “cannot assume the functions of money,” BIS reports July 4. Speaking to Swiss newspaper Basler Zeitung last week, subsequently published by BIS itself, general manager Agustin Carstens cautioned “young people” against “trying to create money,” drawing comparisons

2018-7-5 16:55


BIS GM says new cryptos are garbage

They are also actively testing the distributed ledger technology underlying cryptocurrencies – not as a substitute for the current system, but to build on it.” The BIS general manager concludes that “Even in this digital age, trust in the issuing institution matters and will continue to underpin currencies. Central banks, for their part, will have

2018-6-17 00:21