Mastercard CEO, Ajay Banga, has recently attacked in his statement bitcoin and other cryptocurrencies, calling them “nothing but junk”.
That is quite understandable, as cryptocurrency is a serious disrupting factor in the modern financial world, as well as it could become a direct competitor to companies like Mastercard.
Though, as Ajay Banga states, the things are rather different. First of all, he doesn’t trust cryptocurrency, as it is not backed by the state. As soon as this backing is in place, companies like Mastercard may accept the digital currency, moreover, they can be engaged in this currency game as well. Hence, Mr. Banga specifies, that “government backed cryptocurrencies are interesting, not backed ones though are a junk”.
More than that, Mr. Banga accentuated, that bitcoin, the most expensive and the most popular currency, is neither stable nor transparent, moreover, it is not safe, if we recall the recent events with ransomware attacks. Bitcoin, like any other cryptocurrency, is in the very end nothing but a software…
Anyway, the statement of Mr. Banga has not brought or revealed anything new, just accentuated the week sides of cryptocurrency.
Meanwhile, Brock Pierce, Chairman of Bitcoin Foundation, believes, that all these attacks are a good sign. If bankers of such level are paying attention to bitcoin, it means, the cryptocurrency is worth something.