Today I read an interesting article on cointelegraph which talked about the recent interview of World Bank's President : Jim Yong Kim with CNBC.
In the interview Jim Yong Kim said that
"Blockchain technology is something that everyone is excited about, but we have to remember that Bitcoin is one of the very few instances [of Blockchain’s use in currency]. And the other times when Blockchain was used they were basically Ponzi schemes, so it’s very important that if we go forward with it, we're sure that it’s not going to be used to exploit.”
It is really an excited thing to hear from Jim Yong Kim about his views on the Blockchain Technology. Although I completely agree with him on his views on Bitcoin and why I agree is because we all know that the crypto market is highly volatile and it does not go well with Technical Analysis that we use in Forex and Share markets.
In crypto market anything can happen at any time and it is hard to predict what will happen next.
Use of blockchain technology has been widely been accepted by many countries like India, Taiwan, Japan etc although there are many countries who do not support the to use blockchain technology as a currency for instance Bitcoin, Ethereum etc. As crypto currencies run according to the market and not according to the governments. The problem with the Governments to accept crypto currency as a payment mode is actually the risks associated with them that I have discussed above and adding to it the governments don't like systems that they can't control in this case the government can't control the market ( FUD that China created not control it is called manipulation).
Tell me your views on this matter in the comment section down below