Bank of England Governor Mark Carney stated that bitcoin has failed as a currency during a presentation at Regent’s University in London. He explains that the digital From the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for g... More doesn’t satisfy any currency’s defining attributes such as being a One of the functions of money or more generally of any asset that can be saved and exchanged at a later time without loss of its purchasing power. See also Precautionary Holdings. or a useful means of The Eurosystem comprises the European Central Bank and the national central banks of those countries that have adopted the euro. – in reference to the digital currency’s volatility and poor acceptance rate.
Carney, however, does believe that the technology behind it, the An unchangeable digital record where transactions are processed and verified by a network of independent computers rather than by a single referee. This decentralised structure has been described as a... More, could be useful for other applications. These statements come at a time when a number of central banks have admitted exploring options for the development of digital national currencies.
In regards to cryptocurrencies, other governments have expressed their concern from China to the US; from Singapore and now even Spain. Just recently, the Spanish National Stock Market Commission (CNMV) published describing Bitcoin is commonly said to be a cryptocurrency, a digital means of exchange developed by a set of anonymous authors under the pseudonym of Satoshi Nakamoto, which began operating in 2009 as a communi... More as a volatile and unstable cryptocurrency. The report also warns investors about the risks related to crypto and ICO investments as none have been listed or verified by the Spanish authorities.