NEW: Crypto cannot form the foundation of the global monetary system due to structural flaws, according to BIS_org, by iamsandali
backed by another cryptocurrency with an algorithm in place to regulate supply and demand of the stablecoin, and maintain its peg.
Money, Shin said, is the perfect example of a virtuous circle of greater use and greater acceptance. Crypto’s decentralized nature, on the other hand, achieves exactly the opposite, namely fragmentation.arguing that crypto cannot fulfill the role of money because costly transactions and scalability restrictions lead to the crypto world splitting into competing blockchains and ecosystems.
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