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Cryptocurrencies May Become An Electronic Store Of Value, Says Chief Economist Of Bank Of Singapore
Summary: Mansoor Mohi-uddin, the chief economist of the Bank of Singapore, wrote a report that cryptocurrencies may one day become an electronic store of value. Mohi-uddinren believes that as the main transaction medium of any economy, cryptocurrencies are still unlikely to replace fiat currency. But over time, they may partially replace gold by providing an electronic ...
Mansoor Mohi-uddin, the chief economist of the Bank of Singapore, wrote a report that cryptocurrencies may one day become an electronic store of value.
Mohi-uddinren believes that as the main transaction medium of any economy, cryptocurrencies are still unlikely to replace fiat currency. But over time, they may partially replace gold by providing an electronic rather than a physical store of value.
There are still several hurdles to clear before cryptocurrencies can be considered an important asset in investors' portfolios, for example, volatility, and regulatory acceptance, the report stated.
By Mary Liu
Tags: Bank of Singapore,Cryptocurrency,Gold,Mansoor Mohi-uddin,Regulation,Store Of Value
Link: Cryptocurrencies May Become An Electronic Store Of Value, Says Chief Economist Of Bank Of Singapore [Copy]
