On July 2, the Nobel laureate and world-famous programmer, Joseph Stiglitz, called the Libra cryptocurrency payment project "not worth the trust." The American also said that all those who trust cryptocurrency from Facebook are "fools".
Cryptocurrency from Facebook: Stiglitz opinion
In his column on Project Syndicate, Nobel Laureate in Economics, Joseph Stiglitz, openly criticized the Libra cryptocurrency. According to the scientist, the modern banking system has become quite transparent, and fiat currency quite stable.
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On the contrary, cryptocurrencies are highly volatile and can be used to finance terrorism, or to launder money. According to Stiglitz, only "fools can trust the cryptocurrency from Facebook." As you know, Stiglitz is an opponent of the free market. In addition, the scientist is also a well-known opponent and critic of world globalization. In his statement, he did not reject some of the problems of the modern banking system, but nevertheless he called it much more stable than the cryptocurrency financial sector.
"Only a fool will trust Facebook with his or her financial well-being. But perhaps this is the essence: with so much personal data about 2.4 billion active users per month who know better than Facebook how many suckers are born every minute?" – Joseph Stiglitz.
Nobel laureate criticized cryptocurrency from Facebook. Recall that yesterday we reported on the collective petition of US congressmen to impose a moratorium on the Libra project. According to the American authorities, a cryptocurrency could undermine the state’s monetary policy.