Swiss Central Bank Exec: Crypto ‘Too Primitive’ to Issue State Digital Currency

Cointelegraph

Published Jun 21, 2018 08:28PM ET

Updated Jun 21, 2018 08:41PM ET

Swiss Central Bank Exec: Crypto ‘Too Primitive’ to Issue State Digital Currency

Board director of the Swiss National Bank (SNB) Thomas Moser said that cryptocurrencies and blockchain technology are too primitive to consider issuing a state-backed digital currency, local news outlet swissinfo.ch reported June 21.

Speaking at the Crypto Valley blockchain conference in Zug, Moser compared blockchain in its present condition with the “useless innovation” of compact discs (CDs):

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