Head of Bank of England: Bitcoin Failed to Be Currency

February 21, 2018

Bitcoin has failed to become a currency as it does not meet universal requirements, as the Governor of Bank of England Mark Carney sees it. He believes, the cryptocurrency is neither saving nor payment means.

Carney has made this statement at the meeting with students of Regent's University London.

“It has pretty much failed thus far on... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange”, Carney claimed.

At this he points out, blockchain technology put at the basis of cryptocurrency is useful and may be used as a way for decentralized verification of financial transactions.

Let us remind you that it was not the first time when the Bank’s Governor shared his ideas on Bitcoin. in December last year he used to say, cryptocurrency is no threat for global financial solvency.

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