Home Blockchain Blockchain reduce the need in intermediary banks - the CEO of Blockstream

Blockchain reduce the need in intermediary banks – the CEO of Blockstream

Blockchain technology is a step towards building open networking as it allows processing international transactions without third-party banking institutions with questionable creditworthiness, according to the CEO of Blockstream Adam Black.

Speaking on the sidelines of G20 meeting in Japan, he said that he considered cryptocurrency as “the electronic cash for the global internet world.”. However, the level of cryptocurrency adoption is too low to evaluate their influence on monetary policy of global regulators. 

“I don’t see it as large enough to affect monetary policies for major currencies like the euro and Japanese yen,” he said

Commenting tokenization, Adam Black noted that it allows confirming the system integrity in real time.

It is also worth noting that the finance ministers of G20 included crypto and blockchain agenda in the final communique, saying that the technology requires risk monitoring. They also mentioned that digital assets might be beneficial to the economy, while money laundering and terrorism financing are potential byproducts.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Irish drug dealer loses $57M bitcoin fortune after losing access codes

Irish Bitcoin drug dealer Clifton Collins, who has forfeited digital assets worth $57 million, has continued his trial...

Federal Reserve should produce a digital dollar, Giancarlo says

Christopher Giancarlo, the former chairman of the Commodity Futures Trading Commission (CFTC) has said that the Federal Reserve should generate digital currency.

Coinbase suspends EOS activities due to degraded performance

Owing to Coinbase degraded performance experienced with EOS, the digital currency exchange firm announced via Twitter on Saturday that...

Crypto businesses in New Jersey to start collecting licenses

To ensure customers from the threats digital assets present to their investment, a New Jersey legislator has initiated a bill to organize...

Binance cloud launches to improve local exchanges operation

Binance trading platform, a digital medium where cryptos could be traded reportedly would be launched soon by the...