A Spanish professor and economist stated that cryptocurrencies have brought out the “obsolescence” of central banks, although their capitalization is still “very insignificant.”
Crypto Is Not Only About the ‘Speculative Noise’
Pablo Agnese, an economics professor and lecturer in the Department of Economic and Business Organization at the Universitat Internacional de Catalunya in Barcelona (UIC Barcelona), told Europa Press in an interview that young people could lead cryptocurrencies to even stronger mainstream adoption.
The academic believes that young people’s flexibility in terms of adopting new technologies, including blockchain, makes them more open to understanding what the world of crypto is about, “beyond the speculative noise.”
On the “obsolescence of central banks,” Agnese says that, together with central banking, it has managed to form a “powerful legal monopoly” that cryptocurrencies have called into question. Hence, he believes that both are incompatible and gives more details about it:
Banking represents centralization, clientelism,