Well-respected University of California Professor of Economics and Political Science Barry Eichengreen has claimed that he favors the use of central bank-issued virtual currencies over decentralized cryptocurrencies. He added that the latter will not play a major part in the future of the financial sector.
In his interview with CNBC, Eichengreen said that the central bank-backed digital currencies will streamline existing financial services, while the decentralized virtual currencies will be utilized in illegal activities that can adversely affect their mainstream adoption…
