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The Key Use Cases Of Cryptocurrency Are Mutually Exclusive, Economist Tyler Cowen Says
Summary: Tyler Cowen, an economist, and professor of George Mason University wrote in Bloomberg that the key use cases of cryptocurrency are mutually exclusive. Cryptocurrencies can be either an important inflation hedge or a useful payment method, but they cannot be both. Despite there is a claim that Bitcoin will replace the U.S. dollar as the world's reserve ...
Tyler Cowen, an economist, and professor of George Mason University wrote in Bloomberg that the key use cases of cryptocurrency are mutually exclusive. Cryptocurrencies can be either an important inflation hedge or a useful payment method, but they cannot be both.
Despite there is a claim that Bitcoin will replace the U.S. dollar as the world's reserve currency, Cowen said the token is still too volatile to achieve this goal, and the U.S. government does not want the financial system to exceed the authority of the Federal Reserve, FDIC, and other regulatory agencies. Second, the formal banking industry will be improved, for example by accelerating the speed of liquidation or introducing electronic reserve currencies. Cowen believes that once more mainstream institutions learn from the success of crypto technology, it is still uncertain whether crypto technology will become a market winner.
By Mary Liu
Tags: Bitcoin,Cryptocurrency,Dollar,Tyler Cowen
Link: The Key Use Cases Of Cryptocurrency Are Mutually Exclusive, Economist Tyler Cowen Says [Copy]
