Bitcoin’s value has dropped from $58,000 to $46,000 in a matter of a month. according to eswar prasad, blockchain technology is inefficient and does not scale effectively when used in collaboration with bitcoin. everyone could benefit from a low-cost payment alternative given by cryptocurrencies, which could help to enhance financial inclusion and stability overall. central banks claim that cryptocurrency has “ignited the thought of manufacturing digital copies of their own currencies,”.
according to prasad, there are a number of other cryptocurrencies that utilize blockchain technology more effectively than bitcoin. when it comes to transactions, he believes that blockchain technology would “fundamentally upset” our current financial structure, which he calls “disruptive.” despite this lack of use of bitcoin as a medium of trade, prasad believes that the cryptocurrency will have “no inherent value other than what investor trust leads it to have.”
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