Last updated on January 2nd, 2018 at 12:00 am
This is true for all cryptocurrencies, he argued, because of one very important fact: they are not, and will never be actual currencies.
The blockchain is essentially an efficient transmission mechanism,” he said. “UBS and other banks, even some central banks, have adopted blockchain technology that speeds up transactions between the major banks of the world. But you need to separate the underlying technology, which is rather dull, from bitcoin itself, which might be exciting, but it’s not an actual currency.
Eulogy made by Paul Donovan