Bitcoin, for 10 years of existence, was constantly criticized. Recently, the general director of the French bank Societe Generale Frederic Udea said that bitcoin has no future because of his anonymity.
Governments will tighten measures against crypto currency Fredrik Udea believes that the future of bitcoin and other crypto currency is questionable, as governments and regulators will always intend to control them. The reason for this is the anonymity of transactions, which facilitates illegal activities, money laundering and the financing of terrorism.
At the conference of the web summit in Portugal, the banker told CNBC:.
"The advantage of bitcoin is the provision of anonymity to users during transactions. I believe that the crypto currency has no future, since governments and regulators, while fighting money laundering, tax evasion and the financing of terrorism, show excessive interest in it. Anonymity of transactions is a problem, because of which bitcoin will constantly be subject to pressure ".
Bitcoin is anonymous?.
However, with respect to bitoin Udea may be wrong. There are a number of crypto-currencies, the distinguishing feature of which is the confidentiality and processing of anonymous transactions. Bitcoin does not belong to this category.
Bitcoin addresses are pseudonymous, t. are not directly tied to a specific person in the real world. All transactions of crypto-currencies are recorded in the unit and are available for viewing. Although criminals may take some measures to obscure the traces, Udea mistakenly called bitcoin transactions anonymous.
Echoes of the criticism of Jamie Dimon The views of Frederic Ude are echoed with the opinion of JP Morgan Chase CEO Jamie Daymon who called bitcoin deception. Both believe that bitcoin will fail, but not because of market decisions, but government interference and pressure.
What about cash?.
At the same time, cash gives a higher degree of anonymity than the pseudonymous bitcoin, but none of the opponents of the digital currency calls for a ban on cash, referring to the financing of terrorism, tax evasion and other risks.
Negative statements about the crypto currency once again confirm its strength and universality.
In parallel with criticizing bitcoin because of its unregulated and decentralized nature, we hear positive feedback about the blockade and its ability to increase efficiency and reduce costs.
Attackers on bitcoin critics also do not understand that more and more governments, starting from Japan and South Korea, are accepting crypto-currencies. With the development of technologies, the business models of banks will change. Otherwise, banks, not bitcoins, will collapse.