Newslink: Retail Adoption of Crypto Would “Bring the Internet to a Halt” – BIS Report

The Bank of International Settlements (BIS) has leased a chapter from its forthcoming annual report that delivers a critical appraisal of bitcoin and cryptocurrency. The report attacks virtual currencies from several main standpoints: claiming that cryptocurrencies do not effectively perform monetary functions due to price volatility, that the retail adoption of blockchain-based payment mechanisms would “bring the internet to a halt,” mass cryptocurrency adoption would reap a drastic environmental toll, and that the trust engendered by a decentralized network is too “fragile” to compete with that of centralized institutions.

https://news.bitcoin.com/retail-adoption-crypto-would-bring-internet-halt-bis-report/