Mastercard CEO, Ajay Banga, made a scathing statement, saying that coins without government support are “garbage”
Digital currencies like Bitcoin and Ethereum are big for companies like Mastercard a threat. When Banga was asked for his opinion on this futuristic technology, he was not pleased at all.
Cryptocurrencies for Mastercard are a game changer
Digital currencies have swayed traditional exchanges, investors, and even big banks. even forced a big change. Banga, on the other hand, is not totally against blockchain-based currencies and tokens, but apparently does not support decentralized coins at all.
“If governments issue cryptocurrencies, we will we join the game. We can facilitate the way money is received from customers and sent to merchants and businesses.. The digital currencies that come out under government protection are very interesting.. But decentralized coins are just garbage.”
The Things We’re Used to Hearing
Ajay Banga’s remarks against Bitcoin hardly brought anything new to the table.. Just like everyone else, he is slurring on digital currencies without research and evidence.. Banga complains about Bitcoin’s fragility and malicious use due to its decentralization:
“If I wanted to buy water with Bitcoin, today 1 Strong> While I can buy 2bottles of water with Bitcoin, I can buy 9000 water on another day.. This is not the case. All currencies should be stable and transparent, otherwise they can be used for illegal activities.. Why was the ransom for the computer virus (WannaCry) provided with Bitcoin? Why did China take strict measures on Bitcoin?”
As you can see, Banga is one of the few people with a finger in the global markets and does not want to lose this important position against digital currencies.. He and classic-minded bankers and investors like him seem to be afraid of digital currencies, as Bitcoin has been and will be so successful.
Wall Street is divided over Cryptocurrencies
Differences of opinion are growing day by day. The number of people joining Jamie Dimon’s group of cowards, who view Bitcoin as “fraud”, has already started to increase.
Despite this, those who are trying to make money on digital money, and long-term investors are also roaming Wall Street.. Moreover, these people came from traditional and centralized stock markets.
Former president of Bundesbank and CEO of Swiss bank UBS Axel Weber explained:
“I am often asked why I am skeptical of Bitcoin.. This must be something from my past with central banks.”
In addition, Bitcoin Foundation chair Brock Pierce, he said that the negative statements made as a result of this panic are actually a good thing, and he is obviously right.
“The fact that such statements are coming from the companies that currently run the market show that they accept the important existence of digital currencies… These statements are absolutely true. sign that we are on the way…”
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