2 December 2019 by Clementine
During a recent interview with Cointelegraph, Adam Back, the CEO of Blockstream has exposed the role of the Blockchain in support of crypto-currencies. Analyzing the current situation of the promotion of the Blockchain in China, the specialist reiterated the importance of bitcoin which is now based on a platform uncensored and not controlled by traditional financial institutions.
A crypto-currency controlled is not attractive
In his interview, Adam Back has raised the place of Bitcoin in the schema of the current financial. By evoking the current situation of the crypto-currency compared to the CADC (chinese Central Bank Digital Currency) and the promotion of the Blockchain, he implied that the principle of the digital assets based on the non-censorship.
“If there is a bank of crypto, the interests of the traditional institutions reflected in the operation may seem pretty attractive for the users,” he said in advocating the importance of a platform that is ” publicly verifiable “and a separate right-of-way of the State.
The Libra is not a crypto-currency decentralized
To further his explanation, Adam Back has taken to the Libra as an example of finance is ” censored “. Following his remarks, this stablecoin proposed by Facebook is not a crypto-currency in the proper sense of the term, and this, for the simple reason that it is not decentralized.
“It will not be a crypto-currency decentralized, but a commercial competitor with Venmo, Paypal and QQ Pay, only with a user interface that looks like a wallet crypto “, he explains, before summarizing the project as an ” application of modern banking “, which will not have more of a chance to shine as the Bitcoin or the CADC.
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Passionate about the universe geek, Clementine finds the news more interesting and involved in their drafting.