Digital currency – Bitcoin test failed

“Bitcoin can be an investment vehicle, and it’s not my job to judge or evaluate it,” Benoit Coir, head of the Center for Innovation at PIS, told Bloomberg Television. “But it failed the test as a currency, it failed the test as a means of payment – because its value fluctuates so widely.”

BIS is known as the “Central Bank of Central Banks” and is owned by the Federal Reserve, the European Central Bank, Bundesbank & Co. The company, which is based in Basel, works with them on models for publishing digital versions of traditional coins. . It is important that central banks provide financial security to citizens and find ways to use technological innovations. Official digital currencies could revolutionize the way money works.

“Central banks are focused on a tool that provides liquidity and security that can be used in a global payment system,” Coeur said in an interview. “That’s why we like to look at central bank digital currencies. Crypto has its own place, but it’s different – it’s not a payment tool.”

(Bloomberg)