Deutsche Bundesbank President trashes crypto and blockchain tech

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Deutsche Bundesbank President trashes crypto and blockchain techThe President of Germany’s central bank is not a fan of digital currencies and the blockchain technology that underpins them. In a speech given to a Deutsche Bundesbank symposium, Jens Weidmann, argued that the former are a serious threat to the stability of the financial system, and the latter is no better than solutions already on offer. By way of example, he spoke about a joint project with Deutsche Börse on the use of blockchain technology for the settlement of cash and securities. “The blockchain solutions did not fare better in every way: the process took a bit longer and resulted in relatively high computational costs,” he said. “Similar experiences have been made elsewhere in the financial sector. Despite numerous tests of blockchain-based The post Deutsche Bundesbank President trashes crypto and blockchain tech appeared first on Coin Rivet.


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