Roubini exaggerated: Blockchain is no better than an Excel sheet!
Eonomist Nouriel Roubini said in a panel discussion at Davos that Blockchain technology is no better than an Excel sheet.
The famous critic crypto money Nouriel Roubini, on 25 January crypto currency exchange said it is not better than an Excel sheet Blockchain during a panel discussion held by the Latour.
Roubini is also known for predicting the 2018 financial crisis. The economist, therefore, is called the ‘priest’.
Roubini described Blockchain as the most exaggerated technology in the panel at the Blockchain Economic Forum in Davos, while Bitcoin and other crypto coins were described as the mother of all balloons. In addition, Blockchain and crypto coins are not related to finance technology and special distributed notebook technology (DLT).
According to Roubini, the special DLT is nothing more than a fancy database because it is not reliable and decentralized. He also said that the central bank digital currency (CBDC) like DLT also has nothing to do with the Blockchain and the crypto money. Roubini views CBDCs as a way to disseminate access to the central bank registry to every individual rather than just giving them to the banks.
Moreover, Roubini suggested that the CBDCs will dominate the crypto coins and will radically change banking. The famous economist, in the words of fintech will change finance and remove the cash, Blockchain and crypto coins will not play a role in this change.
Speaking about privacy-oriented crypto coins, Roubini said that no government and regulator would allow the use of crypto coins like Monero .
In June, Japan banned the trading of privacy-oriented crypto coins like Zcash and Monero.
Roubini has been known for years against the crypto money. According to economics, 99 percent of crypto coins are worth zero.