Nick Szabo: Central Banks Might Switch From ‘Physically Vulnerable’ Gold to Bitcoin

Central Banks might resort to cryptocurrency reserves as means of supplementing national gold reserves according to veteran cryptographer Nick Szabo. He also holds that the use of digital currencies will rise in countries with distraught economies. Cryptocurrency Over Gold Speaking at the Israel Bitcoin Summit at Tel Aviv University on January 8th, legendary cryptographer, Nick Szabo, said that national central banks might resort to cryptocurrency reserves as means of supplementing existing national gold reserves. “Bitcoin could survive a nuclear war” @NickSzabo4 #bitcoinsummit pic.twitter.com/IIn1CzyKJ9 — Steph Vaughan (@GoodStephV) January 8, 2019 One of the reasons for this to happen, according to Szabo, is the potential lack of trust between foreign banks or governments: There’s going to be some situations where a central bank can’t trust a foreign central bank or government with their bonds for example. […] One solution that’s been developed is to have the Swiss government hold it for…

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