Swiss Central Bank Governor: Bitcoin belongs to “invest more than currency”

nRunaway Comment: The governor of the SNB, the chairman of the Forgery Prevention Group of the Global Central Bank, says cryptocurrencies are an investment rather than a single currency. Because it is more about central bank currency, not technology. And on the bottom blockchain technology for cryptocurrency, he said at the SWIFT annual Sibos conference that blockchain technology will revolutionize the financial industry altogether and that the government has been participating in the technical discussion, with its focus on cost-cutting potential.n
nTranslation: Annie_Xun
The governor of the SNB, Swiss National Bank, started talking about cryptocurrencies.n
Thomas Jordan, chairman of the Central Bank Counterfeit Deterrence Group, also attended a meeting in Basel, Switzerland. He said that central banks in all countries are “more willing to look at cryptocurrency than I can think of as investment, not as currency” .n
Reuters reports Jordan said:n
n”It is important to understand that it is not a technical issue, but who can get the central bank currency in what form. There are still too many unanswered questions.”n
nHe said central banks in all countries must consider the possible implications of cryptocurrencies on the financial system.n
This is not the first time he has expressed his opinion about cryptocurrencies.n
Speaking at the Sibos conference in Switzerland last year, he described the underlying blockchain technology as “a complete change in the financial industry.”n
At the time, he said that the SNB was discussing the future role of blockchain and distributed ledgers with market participants, regulators and other central banks. The technology promised “the first and most important thing is to reduce costs.”n

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