Carney did not call for a ban on cryptocurrencies such as Bitcoin - and said the underlying technology had some promising applications. Carney called for regulation of the space, something he says the Bank of England is looking at closely.
David Merry, CEO of cryptocurrency firm Investoo Group said he welcomed the Bank of England chief's comments on blockchain but insisted that there is a market for cryptocurrency despite Mr Carney's scathing analysis. Carney said bitcoin fails to pass several key tests of what a currency should be able to do.
During the speech Mark Carney explained the three qualities of money; store of value, medium of exchange and a unit of account.
"Currently, no major high street or online retailer accepts Bitcoin as payment in the United Kingdom, and only a handful of the top 500 U.S. online retailers do". However, he said that if more people started investing the bubble could raise concerns for macro financial stability.
Reactie plaatsen
Reacties