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Bank of England: Digital currencies are similar to commodities

Posted on 14 March 2014

The Bank of England (BoE) has published an article on the role of money in the modern economy and one topic was the future of digital currencies and payment technologies. The currency v commodity debate has been going on for a while and the Bank of England is clearly on the commodity side of the argument.
“Digital currencies are not at present widely used as a medium of exchange. Instead, their popularity largely derives from their ability to serve as an asset class. As such they may have more conceptual similarities to commodities, such as gold, than money,” the bank concluded………………………………………..Full Article: Source


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VRS - who has written 37629 posts on Opalesque Commodities Briefing.


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