Economists: “the concept of state-owned cryptocurrencies could turn out to be a failure”
Economists Peter Bofinger and Thomas Huss argue that government-owned cryptocurrencies may fail as a medium of exchange due to competition from private banks. According to an article on European economic policy analysis published by economists Peter Bofinger and Thomas Hass, cryptocurrencies issued by governments may be a failure because the concept lacks “understandable motivation.” Bofinger and Hass, of the economics department of the University of Würzburg in Germany, argue that central banks have been too…
