Published on November 9th, 2017 | by bitcoin0
CEO of Citigroup says Bitcoin Threat Will Increase State Cryptocurrencies.
Citigroup CEO Michael Corbat has predicted that state-sponsored digital currencies will arise from the threat posed by bitcoin.
“It’s likely that we’re going to see governments introduce, not cryptocurrencies – I think cryptocurrency is a bad moniker for that – but a digital currency.”
While encouraging people to go out and try using cryptocurrencies, which he said are still “pretty clunky,” Corbat argued that the underlying blockchain technology “has potential” and should not be dismissed.
Citi is already exploring its own cryptocurrency, called citicoin, which is aimed to curb friction in cross-border foreign exchange transactions.
Corbat’s comments come soon after Goldman Sachs CEO Lloyd Blankfein said that he isn’t “comfortable” with bitcoin, but open to its potential.