The governor of the Bank of England admits failure of operation of the bitcoin


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The governor of the Bank of England admits failure of operation of the bitcoin

The governor of the Bank of England admits failure of operation of the bitcoin

He said Bank of England Governor Mark Carney on Monday if bitcoin fails as a currency according to the indicators of normative and it is not a store of value or a useful way to buy things.

Speaking in front of students at the University of Regina in London said Carney, ”it’s failed almost entirely even now in the traditional aspects of the funds.

He noted it is not a store of value because it is highly volatile. No one uses it as a medium of exchange“.

Formal announcement of the failure of bitcoin

But Carney said in answer to a question that the technology underlying the digital currency in the world months may be useful as a means for financial transactions in a decentralized fashion.

Said the governor of the British Central Bank also said that the movements of the British pound led to a great extent the adaptation of the past on Britain’s exit from the European Union.

And assured the officials and British diplomats are working hard to reach agreement on the transitional phase before the end of March.

 Reuters Arabic

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