Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Crypto Star Won’t Shine Bright for Another Decade, Sberbank Chief Says

Published 10/19/2018, 07:54 AM
Updated 10/19/2018, 09:01 AM
 Crypto Star Won’t Shine Bright for Another Decade, Sberbank Chief Says

There is no bright future for digital currencies, at least over the next decade, according to German Gref, head of Russian state-owned banking giant Sberbank. He offered his views on the nascent industry in a speech at the Forum of Financial Innovation Technologies (Finopolis), local media outlet RIA Novosti reports.

Rationalizing his gloomy forecasts, Gref pointed out that states are not willing to part with the centralized system of money supply, which spells a dead end for cryptocurrencies, at least over a 10-year horizon.

"No state will concede its centralized power and let cryptocurrency take its place though I am all for distributed models in different areas, including money supply," ...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.