The BIS’ Report on Crypto as Money: A Critical Review
Cointelegraph
Published Jun 21, 2018 06:24AM ET
Updated Jun 21, 2018 07:41AM ET
The BIS’ Report on Crypto as Money: A Critical Review
The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com.
Cryptocurrency is a poor substitute for fiat money, claims the Bank of International Settlements in a chapter of its annual report, released on June 17. In a solid and neatly formatted document laden with footnotes and graphs, the BIS’ experts present a particular historical view on money that they use as a vantage point in establishing the alleged superiority of stalwart centralized institutional arrangements over the chaos of permissionless distributed ledgers. How robust is their argument?
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Written By: Cointelegraph
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