Crypto Star Won’t Shine Bright for Another Decade, Sberbank Chief Says

There is no bright future for digital currencies, at least over the next decade, according to German Gref, head of Russian state-owned banking giant Sberbank. He offered his views on the nascent industry in a speech at the Forum of Financial Innovation Technologies (Finopolis), local media outlet RIA Novosti reports.

Rationalizing his gloomy forecasts, Gref pointed out that states are not willing to part with the centralized system of money supply, which spells a dead end for cryptocurrencies, at least over a 10-year horizon.

“No state will concede its centralized power and let cryptocurrency take its place though I am all for distributed models in different areas, including money supply,” …

This article appeared first on Cryptovest

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