In an interview with Barron's, the former head of the US Federal Deposit Insurance Corporation said that she does not see the need to introduce a ban on digital currencies.
Bair firmly believes that the dollar, similarly, has no intrinsic value, and the difference between cryptocurrencies is that people believe in them.
According to CoinDesk, at the end of 2017, Shyla already noted the fact that the core value of conventional monetary currencies once depended “more on psychology than physical attributes.”
Shyla Bair sits on the board of directors of the blockchain project Paxos, and also takes part as an advisor and directors in several blockchain projects.
“From the very beginning of trade, people have assigned value to things that have no obvious intrinsic value. Particularly with exchange media such as currencies, we assign value only because those with whom we transact also understand it,” says Shyla Blair.
According to https://www.barrons.com
You May Also Like
Bitcoin skeptic Robert Shiller called bitcoin a “social movement”
Robert Shiller, a Nobel Prize-winning economist and Yale University professor who believes bitcoin is a bubble, said that bitcoin is a social movement and its popularity in the United States varies by region. He called it an irrational response to new information. Silicon Valley is interested in this technology, which is why bitcoin is more popular on the West Coast than on the East Coast.
Joseph Stiglitz: Bitcoin will be “regulated into oblivion”
Joseph Stiglitz is an American economist, professor at Columbia University, winner of the Nobel Prize in Economics. He joined forces with fellow economists Nouriel Roubini and Kenneth Rogoff in an attack on Bitcoin.
