Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.
Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.
Ive been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending, he says.
https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.htmlAnother Nobel prize winner that is completely clueless about something outside his sphere of knowledge, if governments could shut down cryptocurrencies they should have done so already, the main reason bitcoin is still around 10 years later comes from its decentralization, it is as if he has no knowledge that there is not a button you can push to turn off this market, but I see something more insidious here, he does not want to recognize this market cannot be shut down even by the most powerful institutions of the world but he wants to make it seems as if it is possible to delay adoption.