As usual, focusing on one disadvantage and ignoring the many advantages provided by crypto.
If he is referring to the use of the majority of traditional payment systems about this idea of “financial inclusion,” that is not the kind of financial inclusion that people in the crypto space are looking for. Driving costs down and improving service quality? Really? Do the traditional payment systems accomplish these? And talking of future innovations, sovereign currencies are more promising than cryptocurrencies? My head spins to think about the kind of world this BIS head is talking about.
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Yeah it is a rather convoluted opinion. While payment systems made a lot of progress, there is still a lot of friction in the system. This is something that blockchain (especially Hive) is working on clearing up.
But the bankers have to protect their own. It appears this is going to continue until we have enough infrastructure to lap them.
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