Bitcoin is not inefficient—Bank of England boss is wrong
Let's address the claim that "Bitcoin is inefficient," this is only true if one mistakenly assumes that BTC—which trades as Bitcoin on most digital currency exchanges—is Bitcoin.
Latest Andrew Bailey News
Bank of England head tells Parliament Bitcoin is ‘pretty inefficient’
The Bank of England takes aim at Bitcoin as a payment method, with Governor Andrew Bailey calling it "inefficient," while Deputy Governor Sarah Breeden cites the lack of regulatory clarity for its adoption.
UK update: CBDCs, tokenized bank deposits, and self-sovereign identity systems in play
In the past week, the U.K. has been moving quickly with innovations related to digital currencies, blockchains, and financial innovation in general.