Bitcoin and the blockchain — the “mother of all bubbles”. In the event the Blockchain Economic Forum in Davos, Nouriel Roubini, one of the most authoritative experts in the world on issues of global Finance, reiterated its opposition to the mass adoption of digital assets in the world. During his speech, Nouriel said that the prolonged bearish trend is a direct confirmation of his words about the uselessness of Bitcoin.

The blockchain is a waste of time

From the development of blockchain not affect the future of the “revolution in Finance”. Cryptocurrencies themselves are so small that do not have a significant impact on the world.

I believe that sooner or later will be a revolution in financial services. The name of this revolution — FINTECH. However, my definition of Finance has nothing to do with bloccano or cryptocurrencies.

The technology of sequential circuit blocks is nothing short of a “mental database”, which is not better than sheets in Excel. In the long term, cryptocurrency supposedly doomed to failure because they can’t fulfill even their basic functions.

They are not a unit of account, means of payment or a stable instrument of accumulation. You can’t have something decentralized, but it is scalable and secure. Bitcoin gives the opportunity to spend a maximum of 5 transactions per second, while Visa handles 25,000 transactions over the same period of time.

News about the possible launch of cryptocurrency is one of the world’s Central banks Roubini called a complete farce. In his opinion, this project was not destined to be realized.

How can one interpret the phrase “digital currency Central Bank”? It is a cryptocurrency? No. It is based on the blockchain? No. Right, it’s centralized database. It is fully controlled by the Bank.

It is noteworthy that acted Roubini one and has not held any discussions with other forum visitors. Maybe he didn’t want his arguments, at least someone said something bad.

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