Technology

Sergey Guriev: cash will die, but Western countries will not tolerate the development of cryptocurrencies

In the close to future, cash will utterly substitute the digital type of cash, but it will not be bitcoin. About this in interview Kyiv Faculty of Economics mentioned the former chief economist of the European Financial institution for Reconstruction and Development, ex-rector of the Russian Faculty of Economics, professor of economics at the Paris Sciences Sciences Sergey Guriev.

In line with him, the course of of avoiding cash has accelerated in opposition to the backdrop of a pandemic, and the future is in the digital currencies of central banks and fintech.

Cryptocurrencies do not have a basic worth, and the authorities will not enable their development, Guriev believes.

“In autocracies, they [cryptocurrencies], of course, assist elevate cash in order that the authorities do not see this. But in democracies, they permit tax evasion that Western countries will not tolerate, ” he declared.

The economist additionally talked about his dialog with Telegram creator Pavel Durov earlier than the Telegram Open Community venture stopped US authorities.

“I requested him what's the worth of what you will provide. He mentioned: "I'm making extra user-friendly bitcoin."

Recall in line with survey The Economist, each second trusts the digital currencies of central banks, and each fourth trusts cryptocurrencies.

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