CEO Of Blockchain – Bitcoin Is More Stable Than Pound Post Brexit
The global currencies and equities are affected by the Brexit. However, the bitcoin catches the trend and its price increases around 10 percent immediately after the post-Brexit, which lends the legitimacy to the cyptocurrency.
This unregulated alternative to the cash money is considered to be risky due to its volatility. The Chief Executive Officer of the Blockchain Peter Smith said that the cyptocurrency is much better than the regular currencies. Smith further told in the CNBC’s show The Rundown that the person invested their assets into the bitcoin in the last six years should have earned more than the local currency.
There is more stability in Bitcoin right from a volatility view than both the pound and euro, which is a great achievement for the bitcoin. It can a be an indictment of the pound and the euro.
Every month, the bitcoin is used by the millions of people and there is a huge user base of it as told by the Peter to CNBC on the sidelines of the annual meeting of the World Economic Forum in Tianjin. He also said that it is only alternative to the banking system who had millions of users after the PayPal. There are many global banks such as UBS and Santander, who is conducting real world trials by using the technology of bitcoin for the operations related to the cross border payments. If this move become successful, it could increase the speed of the process and make it cheaper.
The technology of the blockchain is working like a decentralized and huge ledger for the digital currency bitcoin and storing the every transaction on a global network. If the transaction gets recorded and stored on a global network, then it can’t be tempered in any way.