Paul Krugman, who has been a vocal critic of the digital currency, has just made another statement that has the whole community shaking their head. I have a slightly different take.
When Krugman says that Cryptocurrencies have set the monetary system back by 300 years, he is partially right. The basic premise of cryptocurrency is a disruption. You cannot blame the ax for its ability to cut wood. As for his analogy of gold coins and blockchain tokens, it is as flawed as a Monet that I would paint. Yes, the technology is a little "heavy" as were the early easily copied bank notes.
As for setting it back 300 years, it is an exaggeration, if there ever was one. Yes, the technology advancements of the last six decades have been erased and made to look like a mistake, but that is a small price to pay to usher in a new era in banking.Invest in LEGAL ICO - https://OiX.li/
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