Nobel laureate Joseph Stiglitz proposed to prohibit Bitcoin

Joseph Stiglitz, Nobel Prize winner in economics and a professor at Columbia University, proposed a total ban on cryptocurrency during his interview with CNBC .

Stiglitz is concerned that cryptocurrencies are used in criminal activity and operations with them are opaque.

At the same time, the Nobel laureate favored the development of digital payment systems for national currencies.

“I believe that the transition to the electronic payment mechanism is much more efficient than cryptocurrency. If we know in real time what people are spending, it will be easier for us to regulate the economy, ”said Joseph Stiglitz.

Stiglitz's statement was commented by the CEO and founder of the ShapeShift exchange platform, Eric Vorges, proposing to ban Fiat.

We should shut down the fiat currencies …. and they actually can be. https://t.co/i7k1IEYSY0

– Erik Voorhees (@ErikVoorhees) May 6, 2019

We note that earlier Stiglitz had already criticized Bitcoin, which, in his words, “is trying to solve a non-existent problem, ” and the regulation of cryptocurrencies should destroy them.

In January 2018, Nobel laureate in economics Robert Schiller voiced a similar point of view. He stated that "the collapse of Bitcoin is inevitable and is only a matter of time."

Subscribe to BlockchainJournal news on Facebook !