Swiss National Bank Chairman: Cryptocurrency Is Just An Investment and Not An Actual Currency

Swiss National Bank

Thomas Jordan, chairman of the Swiss National Bank (SNB) spoke about his view of cryptocurrency yesterday.

He spoke at an event in Basel and stats that the Swiss central banks and banks around the world are keeping a sharp eye on cryptocurrency. Jordan spoke with a very cautious tone and stated, “I would look at them more as an investment than a currency.”

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According to the report by Reuters, Jordan stated:

“It is important to say it is not question of technology, but a question of who has access to central bank money and in what form. There are up to now many unsolved questions.”

His concluding statements on digital currencies were to draw focus on the potential effects cryptocurrencies might have on the whole financial system. The overall theme among the central banks is that digital currency “bad” but blockchain technology “good.” There have been major banks around the world attempting to use blockchain within their current systems to improve efficiency in many aspects of the banking process. They’ve found the tech to have the potential to most importantly reduce cost.

Featured Image: twitter

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