Swiss National Bank (SNB) board chairman Thomas Moser said that electronic money and blockchain technology were too sketchy to consider issuing a state-backed digital currency, according to swissinfo. said .ch.
Speaking at the Blockchain Crypto Valley conference in Zug, Moser compared the blockchain in its current condition to "useless innovation" like the previous compact disc:
"A similar event occurred with bitcoin. People will just move on to something new if it works better or cheaper. "
Moser, who was appointed to the board of the Swiss Federal Bank in 2010, acknowledged that the blockchain technology has the potential, but only if it "is more mature than today." Of the technology, Moser can not imagine an "e-franc" in the near future.
At a similar conference, member of the Swiss Federal Council Johann N. Schneider-Ammann said that one day the blockchain would "penetrate our entire economy." Schneider-Ammann says that the country is not fully aware of the potential risks.
Switzerland has been recognized as a nationally friendly blockchain and electronic money, especially by the "Crypto Valley", a center of fintech, blockchain and digital currency operations located in the state of Zug. According to a study by blockchain BlockShow Europe 2018, the country is ranked first in the list of leading European countries for starting Blockchain.
Last month, the Swiss Federal Council requested a report on the risks and opportunities for the introduction of a government-backed digital currency. The idea for national e-money development was proposed in February by Romeo Lacher, chairman of the Swiss stock exchange SIX. He said, "An e-franc under the control of the central bank will create a lot of value - so it will be good for the economy."
