Fed Governor Says 'Blockchain Is Totally Overrated,' Claims Crypto Is 'Just Electronic Gold' – Bitcoin News

The economist and member of the Federal Reserve Board of Governors, Christopher Waller, believes blockchain technology is “totally overrated.”

Fed Governor Says 'Blockchain Is Totally Overrated,' Claims Crypto Is 'Just Electronic Gold'

“These things aren’t payment instruments at all,” Waller remarked during the virtual panel. “My view is these things are just electronic gold. They’re forms of storage carrying wealth across time. Look at art, look at baseball cards. Look at all of this stuff that’s intrinsically useless that people pay a lot of money and hold on to because they think they can sell it later and get their money back.

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