Facebook’s crypto currency After the introduction of Libra on Tuesday, the crypto currencies are on the agenda again, criticism of the technology in question continues. US Nobel Prize-winning economist Joseph Stiglitz said, crypto currencies must be eliminated completely.
Stiglitz, in an interview with CNBC, stating that crypto currencies are some kind of land network, I think we should eliminate Crypto currencies completely. All this interest in crypto currencies bothers me because it said it was nothing more than moving transactions from a transparent platform to a kind of land network.
Stiglitz, highlighting the dangers posed by crypto currencies, said the world has already seen the role of real estate in money laundering, and added: We have seen all the dimensions of money laundering in the Paradise Documents and Panama Documents. Most of the world welfare is located in these shelters.
Stiglitz stated that he has been a supporter of electronic payments for a long time. (Electronic payments) has a lot of benefits. I think that if we can have the data on how much people spend on time, we will have a better managed economy. This allows the US Central Bank to create interest rates more efficiently and to achieve better macroeconomic management.
Stiglitz, while strongly opposing crypto currencies, said there should be a solution to make electronic payments more transparent without the dangers of surveillance. Stiglitz also said that crypto currencies do not have the characteristics of a good currency. Stiglitz said that the dollar has all the good features that a currency should have, but the crypto currencies do not exist, and that the country has a stable currency in dollar form and that people do not need to move to crypto currencies.
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