New York Fed economists unconvinced on crypto’s viable uses
Cryptocurrencies would work in dystopian world, economists say
Advanced economies may have no need for cryptocurrencies, economists at the Federal Reserve Bank of New York have said.
In a Q&A published online, Michael Lee and Antoine Martin discuss the merits of cryptocurrencies and the instances in which they are used.
“Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious this is a problem that needs solving, at least in the US and other advanced economies,” Martin says.
The “trust-proofing”
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