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John Williams is confident that bitcoin can not replace the US dollar



And, first of all, this is because the crypto-currencies do not pass the basic test on what the currency should be.



23.Apr.18 1:59 AM
By Abigail Richards
Photo Toinnov.com

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John Williams is confident that bitcoin can not replace the US dollar
According to John Williams, the next president of the Federal Reserve Bank of New York, crypto-currencies will not be able to replace the dollar, and first of all, this is because the crypto-currencies do not pass the basic test for what the currency should be. This is written by jourtify.com.

John Williams noted that the currency should be something like a "value store," and the cryptocurrency should be elastic to support various financial and economic conditions.

At the same time, Williams expressed his concern over the problems of illegal activities in the cryptocurrency community, noting that bitcoin, like other digital currencies, should be brought to institutional order, because now they are connected with significant problems with fraud, money laundering, financing of terrorism, etc.

According to Williams, reasoning about currencies is more appropriate for the government of the central banks of leading countries.

Also, speaking of digital money, Williams pointed to the unstable price movement of cryptocurrency. In particular, it was said that volatility does not make it possible to use the digital currency as regular payments for goods and services.

At the end of the conversation, it was said that he was very biased about digital currencies.



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