2018-6-21 01:26 |
Since the report’s publication, many leaders in the crypto community have argued that the BIS is incorrect in much of what it seems to state as fact.
CEO and co-founder of Circle Jeremy Allaire commented that the report was “very shallow,” and added, “They haven’t done much research at all.
These assumptions are fallacious in their logic and are hallmarks of the same “shallow,” narrow-scoped research that Allaire criticizes.
Most cryptocurrencies operate via decentralized platforms, which BIS says is a huge problem as they can deter users’ confidence.
“Put in the simplest terms, the quest for decentralized trust has quickly become an environmental disaster,” the report states.