Swiss Bank Lambastes Crypto; Slow, Costly, and will Break the Internet

In a recent report the Bank for International Settlements (BIS) condemned cryptocurrencies with some scathing comments about the collapse of the internet among other things. It is not unusual for a bank to be critical of crypto. It is not surprising either since decentralized money competes with and goes against a bank’s business model which is to make money from its customer’s money. They…
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