Cryptocurrencies Are Not Currencies

The Finanser’s Chris Skinner argues that cryptocurrencies are not currencies, at least not yet. There are simply not enough merchants accepting any kind of cryptocurrency yet. Here is the definition that Chris likes: cryptocurrencies are a new asset class that enable decentralized applications. This definition is taken from a blog post by Adam Ludwin, the CEO and founder of Chain, in a response to Jamie Dimon’s criticism of bitcoin last year. Source.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.