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Cryptocurrency needs public trust

Parto Avazpour
Written by Parto Avazpour

A member of the central bank ’s judiciary legislature declared, cryptocurrencies are not made of papers so, the base of public confidence has to be provided.

According to a local news agency, at the eighth conference of e-banking and payment systems, Hojjat-al-Islam Seyed Abbas Musavian affirmed that it is possible to create a public property that people accept in deals. This way, money will circulate in the market and that differs from a group of society who take risks.

He mentioned the foremost character of cryptocurrencies and said:

I do not consider Bitcoin a kind of money. financiers need foundations in accordance with which other assets can be ranked.

Moreover, he added:

We are facing questions; who is the publisher of this virtual money and who authenticates it? What are their responsibilities and how can this money be supported?

Ultimately, he declared:

As bitcoin is known as a type of cryptocurrency on social networks, I casually refer to it as the mysterious money; its structure is unknown.

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Parto Avazpour

Parto Avazpour

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