September 25, 2022




Home Cryptocurrency News Opinion | Cryptocurrency nonetheless hasn't solved any issues – The Washington Put up

Opinion | Cryptocurrency nonetheless hasn't solved any issues – The Washington Put up

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In her Sept. 19 op-ed, “Crypto has hope — and a long way to go,” Megan McArdle shed an ambiguous mild on the way forward for cryptocurrency, highlighting prospects and breakthroughs, resembling ethereum’s new energy-efficient mining technique, whereas acknowledging the challenges that it faces. Although I agree with Ms. McArdle’s opinion that cryptocurrencies have a lot bigger issues than the environmental considerations, Ms. McArdle did not stress the most important impediment of cryptocurrency: adoption by nationwide governments for the sooner, simpler and safer transactions it guarantees.

Governments may see “unregulated” cryptocurrency as competitors to their nationwide currencies as a result of crypto bypasses conventional financial insurance policies. Subsequently most, if not all, of the hundreds of present cryptocurrencies will seemingly section out.

Ms. McArdle identified that cryptocurrency has survived for 14 years, which is “far longer than your typical Ponzi scheme.” Nonetheless, she failed to acknowledge that for these 14 years, cryptocurrency has failed to resolve any of the issues it proclaimed to resolve. Cryptocurrency remains to be, because it was years in the past, a fruitless hope.

Sungjoon Kim, Falls Church

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