Speaking at the blockchain conference in Washington, the head of the largest manufacturer of mining equipment, Bitmain Jihan Wu predicted the emergence of private Central banks.

“I believe that private central banks will evolve, that some private companies will decide that their business is to be a private central bank.” — @JihanWu at #DCBlockchain Summit

— CoinDesk (@coindesk) April 7, 2018

He also told about the plans Bitmain to invest 20-30 start-UPS that want to implement this concept using blockchain tech for a legitimate issue private currencies.

The businessman stressed that the share of bitcoin in the cryptocurrency market declines as “the perfect digital currency” does not exist and the market is demanding alternatives.

Wu added that the majority of tokens are likely to be recognized as securities and will be adjusted accordingly, however, regulators, in his view, is to develop a balanced response to the emergence of this kind of business innovation.

Earlier, Cihan Wu and company Bitmain became the object of criticism by co-founder bitcoin.org Cobra.