The latest events cast doubt on the reliability of crypto. Which is understandable. Opinions are still very divided. During a masterclass, two well-known personalities spoke about the value as well as the potential of crypto. They are Paul Krugman, known for his legendary skepticism towards cryptocurrency, and Changpeng Zhao (the CEO and co-founder of Binance).
“Crypto is a new medium for transferring value,” Zhao argues
the debate between economist Paul Krugman and the CEO of Binance was particularly interesting. To start the conversation, Paul Krugman said: “ I am part of the skeptical crypto community “. A statement to which the CEO of Binance immediately responded by citing the raison d’être of Bitcoin.
Zhao indeed argues that crypto is a better form of money. It would solve some problems related to the current currency. According to the founder of one of the most important crypto companies, crypto is easy to use. More importantly, it offers more freedom of use at a relatively low cost. He speaks of a more efficient means of transferring value “.
“Why not just reform the banking rules? asks Paul Krugman
” I’m a little puzzled. It’s unclear why blockchain in itself should make fundraising easier “. This was stated by Paul Krugman in response to Zhao’s arguments. ” This is not a technological problem, but a regulatory problem ” he said while adding: “Isn’t it just a way around regulations that for some reason governments have seen fit to put in place? “.
Concretely, Krugman compares the crypto problem to mobile phones. It explains how two US carriers can have different policies for the same regions. He goes so far as to raise an important question: why is Bitcoin adoption slower than the internet?
The debate between Zhao and Krugman is intended to be most constructive. It allows the community and future users (or investors) to get an idea of the crypto market. And you, what would your opinion be?
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