Bitcoin does not have fundamental attributes needed to be a currency, says PBoC adviser – EconoTimes

Digital currencies such as bitcoin and ethereum are assets, but bitcoin in itself does not carry the characteristics needed to be defined as a currency that could meet new economic development requirements, an adviser to the People’s Bank of China (PBoC) said recently, Reuters reported.

In an interview with financial magazine Yicai, PBoC adviser Sheng Songcheng stated:

“Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms…But I do not deny that virtual currencies have technical value and are a type of asset.”

More at: Bitcoin does not have fundamental attributes needed to be a currency, says PBoC adviser – EconoTimes

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