In spite of the uncertainty surrounding virtual coins, Raghuram Rajan, the ex-governor of the Reserve Bank of India (RBI) is optimistic about the scope of cryptos in the upcoming time. The well-recognized economist said cryptos have a ‘potential future’ if they’re regulated well.
As per the reports, he also seemed positive about well-regulated stable coins, which are virtual currencies associated with an underlying asset like gold or currency. He, however, called for proper regulations for such assets.
A professor of finance at the University Of Chicago Booth School Of Business, Rajan told the news agency that the fundamentals managing the estimation of cryptos stay unclear.
He said that as of now, in this exhilarating environment with asset prices really rising, several cryptos are also being valued – not so much as a method of payments – but as assets in their own right.
Rajan added that cryptos haven’t reached a state when they’ll be ‘your last alternative’ in a crisis, adding that he would be sure about the values of digital coins once they get proper use cases.
He continued that he believes that the value of cryptos has to be seen more with regards to are they going to be useful in the system going ahead. Some of them have value and maybe that will continue. He said that he is not going to say that Bitcoin is going to collapse dramatically the next day. But, he would say that he would be pretty sure about the value of the cryptos once they get proper use cases and the technology is flourishing to make that happen.Share & like