Tuesday March 29, 2022 – We have touted the Blockchain and Cryptocurrency as the future in this space for some time. The promise of Blockchain as to tool to cut out the middleman, reduce transactions costs, provide transparency – and privacy. Well, not everyone is on the Blockchain bandwagon.
Recently, a member of the Federal Reserve Board of Governors, Christopher Waller, said blockchain technology is “totally overrated,”
Speaking about cryptocurrency he said “My view is these things are just electronic gold. They’re forms of storage carrying wealth across time. Look at art, look at baseball cards. Look at all of this stuff that’s intrinsically useless that people pay a lot of money and hold on to because they think they can sell it later and get their money back.”
The United States Government want to move towards a Central Bank Digital Currency (CBDC), a digital token without using Blockchain,
Attorney Steven A. Leahy reviews the other side of the Blockchain debate.