Benoît Cœuré, who serves on the European Central Bank’s executive board, made this claim during remarks at the Economics of Payments IX conference, which is being hosted this week in Basel, Switzerland by the Bank for International Settlements (BIS).
Cœuré, who chairs the Committee on Payments and Market Infrastructure at the BIS — which is nicknamed the “bank for central banks” — devoted a lengthy section of his speech to cryptocurrency technology and how central banks can leverage it in their own payment flows.
Noting that the pseudonymous Satoshi Nakamoto had released Bitcoin during the throes of the Great Recession.
Cœuré said that, “In more ways than one, Bitcoin is the evil spawn of the financial crisis (i.e., Bank Recsession of 2008).”
Welcome to the wonderful world of complexities in the 4th Industrial revolution.
Your economy is evolving and Digital Darwinism is taking place.
Slow learners will understand in due time 🕰