The outstanding British historian and author of the book “The Rise of Money”, Niall Ferguson, rejected the pessimistic statements that he had previously made regarding Bitcoin and DLT (distributed ledger technology).
Speaking with a keynote speech on the first day of the Australian Business Finance Summit last week, Ferguson said he was “very wrong” when he doubted potential applications for cryptocurrency and blockchain technology.
Citing previous statements in which he predicted that virtual currencies "would be a complete misconception," Ferguson said that "it was a mistake to think that there was no … use of a form of currency based on blockchain technology."
Speaking of price action, Ferguson noted that, despite last year’s bearish trend, the price of BTC "remains far from zero."
However, Ferguson expressed skepticism regarding cryptocurrency provided by Fiat, despite the fact that last month he joined the stablebcoin Ampleforth.
Ferguson stated on this subject:
Ampleforth's mission attracted me to reinvent money in such a way as to protect individual freedom and create a payment system that applies to everyone equally.
In an interview with Breaker last month, Ferguson called the existing payment system a “remnant of the 1970s,” but noted that “the experiment begun by Satoshi Nakamoto in 2008 is not yet complete,” adding, “today having Bitcoin is an opportunity to successfully to experiment Satoshi.
And what do you think about this?
