06.18.2018

BIS On Cryptocurrencies: Looking Beyond The Hype

06.18.2018

Cryptocurrencies promise to replace trusted institutions with distributed ledger technology. Yet, looking beyond the hype, it is hard to identify a specific economic problem which they currently solve. Transactions are slow and costly, prone to congestion, and cannot scale with demand. The decentralised consensus behind the technology is also fragile and consumes vast amounts of energy. Still, distributed ledger technology could have promise in other applications. Policy responses need to prevent abuses while allowing further experimentation.

Read BIS Annual Economic Report 

Jospeh Brusuelas, RSM US LLP chief economist, said:

 

 

 

 

 

Related articles

  1. Regulators are likely to separate custody from other crypto exchange activities.

  2. Technology does not change the need for transparency in corporate structures, governance, audit and controls.

  3. Exchange group’s crypto suite has had consistent volume and open interest growth.

  4. The asset manager said its digital asset products are designed to provide secure, transparent crypto access.

  5. Courts will have to consider the treatment of crypto assets in custody.