According to the famous economist and financial expert Nouriel Roubini (Nouriel Roubini) kryptonitetm should not enthusiastically take the news about the development of Central banks digital currency (CBDC), because their release will make crypto-currencies obsolete. This Professor of new York University said during a panel organized by crypto currency exchange LaToken on the forum BEF 2019.
Roubini, that CBDC will have no relationship to the cryptocurrency and blockchain technology.
“In fact, what does [digital currency Central Bank]? It is a cryptocurrency? No. It is based on the blockchain? No. It is the same as the existing system of centralized registry is fully controlled by the Central Bank,” said Roubini.
CBDC will be the “death knell”, not only for cryptocurrency but for the existing electronic payment systems such as PayPal, he said.
“Because why do you need to use them and pay even a small fee, if you can do it for free through the Central Bank?” asked Roubini.
In his speech at the panel implacable critic of cryptocurrencies and blockchain repeated almost all of his previous statements. He again called the blockchain the most overrated technology, which is no better than an ordinary spreadsheet Exell, said that cryptocurrencies are not currency since they have their fundamental qualities. Previously its share of criticism from the “Doctor doomsday” also received smart contracts.
“I believe that in the financial services industry will be a revolution. The revolution is called FINTECH. But in my mind FINTECH has nothing to do with Baccano and cryptocurrencies,” — said Nouriel Roubini.
Recall, according to a survey by the Bank for international settlements 70% of Central banks are considering the issuance of digital currency. Thus, for example, if the head of the Central Bank of Uruguay, said earlier that developed the “digital currency” is not the cryptocurrency, the Bank of Thailand conducts a proof of concept for CBDC on the basis of blockchain platforms Corda.