Never in the history on mankind we had a digital asset which as a supply that cannot be manipulated by an entity or authority and enables global settlement without a middleman. Before Bitcoin only central banks could fulfill this task of settlement and defining money supply.
Dr. Beat Weber is Economist at th Oesterreichische Nationalbank
In his recent book “Democratizing Money? Debating legitimacy in monetary reform proposals”(Cambridge 2018) and other publications and talks he has held a skeptical view of Bitcoin and other schemes’ ability to compete with official currencies.
About Bitcoin he says: Bitcoin can not compete with official currencies.
Aurel Schubert is Honorary Professor and lecturer at the Vienna University of Economics and Business, as well as lecturer at the Vienna School of International Studies, and a central bank consultant. From 1985 until 2018, he has been a central banker, 25 years in the Oesterreichische Nationalbank (in various areas and…